Technical analysis by LucasMgoldview about Symbol PAXG: Sell recommendation (5/30/2025)

XAUUSD is a classic case of a market continuing its downtrend after rejecting resistance within a clearly defined descending channel. This move indicates that sellers are stepping in and maintaining the bearish structure inside the channel.If the downward momentum persists, we could see a move toward the 3,250 level, which aligns with a significant internal support area within the channel. This zone could serve as a short-term target. A decisive break below this level may open the door to further declines. However, failure to sustain this bearish move could result in a retest of the upper channel boundary.Traders should watch for confirmation signals such as lower highs forming below the recent supply zone or strong bearish candles near resistance before considering short setups.If you agree with this outlook or have any additional insights, feel free to share your thoughts!Work was going well on Friday