Technical analysis by FX_Jhon about Symbol PAXG: Sell recommendation (6/16/2025)

This is a technical analysis chart for Gold (XAU/USD) on the 1-hour timeframe. Here’s a breakdown of what the chart is showing:---🔍 Key Observations1. Current Price:The current price is approximately $3,444, just below the resistance level labeled SELLERS SUPPORT around $3,460.2. Resistance Zone (SELLERS SUPPORT):Price reached a significant resistance at the $3,460 level.Multiple red arrows indicate previous rejections in this zone.This suggests strong selling pressure around this area.3. Targets to the Downside:Target 1: $3,406 – A previously tested support zone, expected as the first level of take-profit or bounce.Target 2: $3,347 – A deeper support level if the price continues to decline.4. Support Zones:The zones marked in red with green arrows below price action indicate previous buying interest/support.These zones match with Target 1 and Target 2 areas.5. Trendline:An upward sloping blue trendline shows the recent bullish move.The trendline intersects near the current price zone, suggesting it may act as support if price retests it.6. Possible Setup:Based on the structure, this chart appears to be hinting at a potential short (sell) opportunity near $3,460, aiming for at least $3,406 andTARGET POINT 1 RANNIG 180PIPS DONETARGET HIT 650PIPS DONE