Technical analysis by Mihai_Iacob about Symbol PAXG: Sell recommendation (6/1/2025)

🟡 1. What happened last week with Gold (XAUUSD)Gold began last week by testing the 3350 resistance zone, hinting the end of the correction and the potential for an upside breakout.However, in the following days, the market reversed aggressively, reaching as low as 3250 on Thursday — a drop of nearly 1000 pips from the local top and resistance zone.After this sharp fall, Gold bounced back above 3300, retested the 3325–3330 area, but failed once again — closing the week below 3300.❓ 2. Key question: Has the rebound ended or is it just a deeper trap?The market has shown a fake-out followed by compression under resistance.So the real question becomes: Will the 3280–3290 support finally give in, or will bulls defend it again?________________________________________🔻 3. Why I expect a continuation to the downsideHere’s what the chart structure tells us:•Clear lower highs and lower lows — the trend remains bearish•3330 has turned into major confluence resistance •Every bounce is sold, showing fading bullish momentum•The support at 3280–3290 is being squeezed repeatedlyIf 3280 breaks cleanly, price action will likely accelerate downward.________________________________________🧭 4. Trading Plan for Next WeekFocus remains on selling rallies, especially if price rises above 3300.📉 Invalidation: any clean break and hold above 3330🎯 Target Zones:•3250 = Soft target (first reaction zone)•3200 = Real target (bearish continuation zone if structure unfolds as expected)Use structure, not emotion. Let the breakout confirm the plan.________________________________________🚀 5. Final thoughtsThe price action around 3280 will likely set the tone for next week.A breakdown here confirms the bearish structure and opens the door to 3250, then 3200.Until then: sell rallies, manage risk, and wait for the chart to validate your edge.Stay sharp. 🚀Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.📈 Gold opened the week with an upside gap.However, the new wave of tariff tensions and Geopolitical tensions feels like another short-lived and overhyped expectation.My view remains bearish: as long as price stays below 3330–3340, I expect Gold to fall back under 3300 and eventually reach the 3200 target zone.Stop above 3330 triggered Let s see if this is a genuine break to the upside.