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

Gold prices rose to 3322 in the early trading on Friday and then started to fall. As of now, the lowest price has retreated to 3270. At present, it is not ruled out that gold will fluctuate widely. From the daily level, the continuous negative turns positive and stabilizes above the middle track of Bollinger again. The stochastic indicator is blunted. With the rebound of gold prices, the green short momentum has weakened. KDJ also shows signs of repair after experiencing a high-level dead cross. The 4-hour Bollinger Bands show a narrowing pattern, and the moving average system will usher in a downward correction in the short term. As Trump's tariff trade is temporarily effective, the short-term trend of gold is expected to continue to fluctuate widely in the short term, and the long-term trend is definitely bullish. Pay attention to the short-term pressure of 3325 on the upper side during the day. Once it stabilizes above 3325, it will be seen that this wave of rebound and rise can continue to around 3365. Pay attention to the support of 3270-3260 in the short term. Further support is 3245. After the European and American sessions on Friday, gold has been under pressure at 3310 and cannot break through. Then gold will continue to be short at highs under pressure at 3310 next week. Bearish repair downside, look down to 3270-3260, wait for it to fall back to around 3270-3260 to accumulate strength before following up with the longs.Trading is not gambling. If you want to make money in this market, you must keep learning. If you don’t understand, you can click my link. I hope it will be helpful to you.Trading is not gambling. If you want to make money in this market, you must keep learning. If you don’t understand, you can click my link. I hope it will be helpful to you.