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

Gold (XAUUSD) Technical Analysis – 1H Timeframe Elliott Wave Structure:Complex corrective structure (WXYXZ)Currently in wave Z Wave Z Details:Currently completing wave B of Z with an expected short-term upward move.After completion of wave B, anticipate wave C of Z to form a descending diagonal (terminal pattern). Potential Target for wave C of Z:Price range indicated on the chart (3220-3172) Key Monitoring Points:Confirm the completion of wave B as a clear ABC correction.Watch for signs of momentum loss and clear divergences in indicators at the start of wave C.