Technical analysis by LucasMgoldview about Symbol PAXG: Buy recommendation (6/4/2025)

XAUUSD is a typical case of a market trading within an ascending channel, with price action consistently respecting both its upper and lower boundaries.The price has broken through a clear resistance zone and may come back to retest. This area also coincides with the gold pocket of the recent volatility and therefore deserves special attention. If it holds as support, then it would be a confirmation of the bullish structure, allowing a good move toward the target area of 3,480, the midline of the channel.As long as the price remains above this support area, the validity of the bullish setup remains intact. However, failing to stay above this level may invalidate the bullish scenario and increase the likelihood of a pullback to the lower boundary of the channel.Please note that I will not participate without proper confirmation.