Technical analysis by ZareeFxTradingAac about Symbol PAXG: Buy recommendation (6/11/2025)

Previous Resistance Zone (Red Rectangle):The chart shows a clear resistance zone between ~3,340 and ~3,370 USD.Price was rejected sharply from this zone earlier (marked by the large blue dot at the swing high).Current Rising Channel (Blue Channel):A rising wedge or ascending channel is forming, typically a bearish continuation pattern when found in a downtrend.Price is currently testing the upper boundary of this pattern.Bearish Projection (Red Path & Arrows):The chart creator expects a rejection from the top of the channel, leading to a breakdown and a move toward the next key support at ~3,246.94 USD.A large red arrow and projected box highlight the short setup zone with an implied favorable risk/reward ratio.Support Target:Blue horizontal line at 3,246.94 marks the next significant support level, likely a take-profit target for short sellers.Macro Factors:Three small icons indicate upcoming U.S. economic events, possibly influencing XAU/USD volatility and confirming the move.✅ Summary:Bias: BearishPattern: Rising Channel (bearish structure)Entry Zone: Around 3,350–3,360 USD (top of channel)Target Zone: ~3,246 USDRisk: Invalid if price closes strongly above the resistance zone (~3,370 USD)