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

Yesterday’s price action confirmed what we’ve been discussing in recent updates: the upside is vulnerable, and the real move could be lower.Gold did push toward the 3400 zone, as expected — but that test was short-lived. Sellers stepped in aggressively, and price dropped back toward the 3350 support zone, closing the day with a bearish engulfing candle on the daily chart.Will we have a new leg down?That’s the big question now. While bulls are hoping for continuation, the current rebound is weak and seems to be shaping into a bear flag.Why I Expect More Downside:- Strong rejection from 3400 key level- Daily chart printed a bearish engulfing- Rebound structure looks corrective, not impulsiveTrading Plan:I continue to look for selling opportunities on spikes, especially near resistance levels like 3375–3385.If the 3340-3350 zone falls, I expect down acceleration and a drop even to 3200 zone. Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.