Technical analysis by Reliable_Trading about Symbol PAXG: Sell recommendation (5/29/2025)

Yesterday I said that I would not consider going long on gold. On the contrary, I think the risk of going short would be much smaller. It also means that if the key support of 3290-3300 is broken, 3250 and 3200 will inevitably be tested. At present, the view is clear and correct. Gold fell below the support range of 3290-3300 as expected, and the lowest level reached 3245.It stands to reason that if the support was broken yesterday, it should fall again today, and the highest level would not rebound above 3300. However, the rebound today came to around 3320, which is very abnormal, and it makes people think that someone may be washing the market.I think we can focus on the previous high of 3325 today. The resistance here will be relatively strong. As long as there is no effective breakthrough, I think gold will fall again.In yesterday's article, I made it very clear that the market is suspected of being washed out, the purpose is to clear the shorts, and also remind to pay attention to the resistance of 3325. If there is no effective breakthrough, it will fall again.The trend of gold prices is indeed in line with my expectations. In the case of a false break but not a real break, gold fell at 3325, and the lowest reached 3287. The decline space reached 40$ this time. I believe that the short positions here have made a lot of money. Congratulations to the friends who follow the transaction.