Technical analysis by RakyatTrader about Symbol PAXG: Buy recommendation (10 hour ago)

Elliott Wave StructureAn impulsive 5-wave structure has been identified (1-2-3-4-5 upward),followed by a corrective A-B-C pattern forming a falling wedge/channel, which has now broken to the upside.Breakout & Potential MovementThe breakout from the descending trendline signals a potential bullish reversal.Currently, price is in a retest phase, likely seeking a pullback before continuation.Demand Zones OverviewMinor Demand ZoneUpper: 3305 – 3314Lower: 3290 – 3294→ Acts as a short-term pullback area. If price holds here, continuation is likely without needing to revisit deeper zones.Major Demand ZoneUpper: 3208 – 3217Lower: 3185 – 3192→ Considered a stronger support area. If the minor zone fails, buyers may step in significantly from here.Trading ScenariosBullish Scenario (Preferred)Price retests minor demandBullish rejection forms → Buy entryTarget: Retest previous highs (~3500) or start of a new impulsive waveBearish Scenario (Alternative)Price breaks below minor demand → Continues toward major demandSafer buy setup if bullish candle or divergence confirms at major zone