Technical analysis by LucasMgoldview about Symbol PAXG: Buy recommendation (6/5/2025)

XAUUSD is currently trading within an ascending channel, maintaining a bullish structure. The price has broken above a key resistance area that has now turned into support, aligning with the potential for continued upside. The recent retest of this level has been successful, indicating strong buyer interest and reinforcing the bullish outlook.With momentum favoring the uptrend, the price could move toward the 3.485 level, aligning with the upper boundary of the channel. However, failure to hold this level could indicate a potential shift in momentum.Traders should watch for bullish confirmation signals, such as a bullish engulfing candle, strong rejection wicks from the support zone, or increasing buying volume, before considering long positions.Let me know your thoughts or any additional insights you might have!