Technical analysis by SMC-Trading-Point about Symbol PAXG: Buy recommendation (6/15/2025)

SMC trading point update Technical analysis of (XAU/USD) on the 30-minute timeframe, incorporating a support zone and trendline confluence strategy. Here's a breakdown --- Analysis SummaryKey Technical Elements:1. Uptrend Channel:Price is trading within a rising channel.Higher highs and higher lows indicate bullish momentum.2. Support Zones:Key Support Level (near 3,400): A horizontal support zone has been marked where price previously bounced (confirmed by green arrows).Trendline Support: This upward sloping trendline adds confluence to the horizontal support zone.3. EMA 200 (3,377.96):Acts as a dynamic support level.Price is well above the EMA, supporting bullish sentiment.4. Projected Price Move:The chart anticipates a dip back to the support area (~3,400), followed by a bullish bounce.Target is clearly defined at 3,504.01, with a measured move of about +103.36 points from the support.5. RSI Indicator:RSI is around 57, which is neutral to slightly bullish.No overbought/oversold signal yet – supporting potential for more upside.--- Bullish Bias Reasoning:Confluence Zone: Horizontal + trendline + EMA 200.Healthy Price Structure: Higher lows being maintained.Momentum Indicator (RSI) supports continuation.--- Risks / Considerations:If price breaks below the confluence support (~3,400), bullish invalidation may occur.Monitor for false breakouts or heavy selling pressure near resistance.Mr SMC Trading point --- Trading Plan Buy Zone: Around 3,400 (support confluence).SL: Below the trendline/EMA – e.g., 3,370 or lower.TP: Around 3,504 (target zone marked).Please support boost this analysis)