Technical analysis by Losarinz about Symbol PAXG: Sell recommendation (6/2/2025)

📊 Chart Overview:Instrument: Gold Spot / U.S. Dollar (XAU/USD)Timeframe: 1H (Heikin Ashi candles)Indicators:RSI (middle panel): Showing sideways movement with a slight bullish tilt.MACD-like oscillator (bottom panel): Includes histogram, signal lines, and red/green dot markers, suggesting potential overbought/oversold conditions or momentum shifts.🔍 Key Technical Features:Harmonic Patterns & Fib Levels:Multiple harmonic-like retracements (potential ABCD or Bat/Gartley structures).Key Fibonacci retracements drawn: 0.5, 0.618, and 0.786 from multiple swing highs and lows.Zones of confluence shown in orange rectangles, suggesting strong S/R levels.Triangle Formation:Price is nearing the apex of a symmetrical triangle.Breakout or breakdown imminent — strong directional move likely soon.Trade Setup (Bearish Bias):Red zone indicates potential short entry area (~$3,323).Target shown near $3,060, aligned with previous major support and measured move projections.Risk appears defined just above triangle resistance, suggesting tight stop-loss above $3,323.📉 Bearish Scenario Bias:Breakdown from triangle could validate the short idea.Large harmonic projections (1:2 extensions) point toward deeper corrective targets.Bearish divergence may be forming (price making lower highs while oscillator rises).📈 Bullish Invalidation:Break and close above $3,323 and triangle resistance would invalidate the bear thesis and could imply resumption of uptrend toward $3,435–$3,500.