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

Overnight, gold broke through the 3400 mark due to the intensification of geopolitical risks, but plunged sharply due to the reduction of the risk of Sino-US trade decoupling. Because the news swept up and down, it brought certain difficulties to the transaction. Today, we will focus on the NFP market!After overnight gold plunged to around 3340, it is currently maintaining a small rebound state. Relatively speaking, the rebound potential is weak, and with the sharp plunge of gold in the short term, the market bulls' confidence has been hit. At present, without major good news, it is difficult to make breakthrough progress based on technical support alone. The upper side faces short-term resistance of 3365-3375 area resistance. If gold cannot break through this area in the short term, gold will be weak!Trading strategy:Consider shorting gold in the 3370-3380 area, TP: 3355-3345Bros, gold rebounded to the 3370-3380 area as expected, and after touching 3375, it gradually fell back to 3352. According to the trading plan, we shorted gold near 3375, almost catching the highest point of the rebound, and gold happened to hit TP: 3355 during the decline. We almost caught all the profits of this wave, which is a very good short-term transaction.Shorting gold around 3375, and setting TP: 3355. Obviously, our short position easily made a profit of 200pips by hitting the TP.Gold happened to touch around 3375 during the rebound, and we accurately captured the highest point. Gold touched around 3352 during the decline, and we set TP to 3355. We almost caught all the profits of this band. Very good short-term trading.