Technical analysis by fdvdfvfddffdgfdg about Symbol PAXG on 6/3/2025

Gold market analysis: Geopolitical risks help push gold prices to break through key resistance, technical outlook remains bullishAffected by the stalemate in the Russian-Ukrainian conflict and the escalation of global trade tensions, risk aversion continues to heat up, and international gold prices strongly broke through key resistance levels on Monday. Although the second round of negotiations between Russia and Ukraine reached a consensus on the exchange of prisoners of war, the ceasefire agreement has not made progress. Coupled with the US's increase in steel tariffs, which has exacerbated economic uncertainty, gold rose by more than $100 a day, soaring from around $3,290 to $3,392, setting a new stage high.Technical analysis: C wave upward trend continues, pay attention to the pressure of the 3,400 markThe C wave rising structure of gold prices starting from $3,120 remains intact. After breaking through $3,340 on Monday, it accelerated to test the 61.8% Fibonacci retracement level ($3,396), but there is significant selling pressure at the 3,400 integer mark. If it fails to break through effectively, it may enter the $3,396-3,340 range in the short term. Current technical indicators and market sentiment point to bullish dominance, and long orders can still be arranged if the key support level is stepped back.Operation strategy:Support level: 3350-3353 US dollars range, if it stabilizes after stepping back, you can go long with a light position, and stop loss at 3343 US dollars.Resistance level: 3396-3400 US dollars area, after breaking through, it can look to 3450 US dollars.Conclusion: Geopolitical risks and economic uncertainties support safe-haven demand, and the technical bullish trend has not changed, so the bullish view is maintained in the medium term. Be wary of the risk of technical correction at the 3400 mark.