Technical analysis by Henrybillion about Symbol PAXG on 6/4/2025

Gold XAUUSD is currently hovering around 3,354 after a sharp drop from the recent high of 3,391. Sellers pushed the price down to the key support zone at 3,334–3,335, but bearish momentum has clearly weakened. The price is moving sideways with small-bodied candles and low volume, indicating the market is “holding its breath” ahead of the European or US sessions or potential market-moving news.https://www.tradingview.com/x/ZGokJ0QH/If this support zone holds and we see a clear bullish signal (such as an engulfing or marubozu candle), it could be a good entry for a buy position, targeting 3,365–3,370 initially and then aiming for a retest of 3,391. A safe stop-loss can be placed below 3,330. However, if price breaks below 3,334 and closes beneath it, the market may enter a deeper correction phase, with potential downside targets at 3,320 or even 3,305.In short, this is a sensitive area where patience is key. Wait for clear confirmation before entering any trades, avoid rushing in, and stick strictly to your risk management rules.Wishing all traders a clear mind, sharp strategy, and profitable results!