Technical analysis by alirezak about Symbol PAXG on 6/1/2025

Looking at the bi-monthly chart of XAUUSD, it seems that gold is approaching a potentially deep corrective phase.Currently, price is hovering near the top of a long-term historical channel that has remained valid since the 1970s.📌 Key Technical Highlights:The upper boundary of the long-term channel is acting as a major resistancePotential bearish divergences are appearing on indicators like RSIThe recent rally has been steep and impulsive — often a setup for a healthy correction"Price is currently in the 5th wave of its major bullish cycle, and considering the timeframe of the chart, a deep correction is likely to occur in the coming months."if you enjoyed this forecast, please show your support with a like and comment. Your feedback is what drives me to keep creating valuable content."Regards,Alireza!