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

XAUUSD Gold has been trending in an upward direction, respecting an ascending channel for some time. Recently, the price action tested the top of this channel and formed a strong resistance level. That resistance was broken briefly, which appeared to be a liquidity trap—drawing in breakout buyers before reversing. This kind of false breakout often signals a shift in market sentiment. Since then, the price has started to decline, and importantly, it has now broken down through the channel’s support level.This breakdown suggests that the bullish momentum may be weakening and that a bearish trend could be starting. Based on technical levels, the next potential support zones to watch are at 3414, 3392, 3345, and 3324. These levels could act as short-term price targets or areas where the market may pause or reverse again.If you found this analysis helpful, don’t forget to like, comment, and follow. Your support helps us grow our community and keep sharing high-quality market insights. For more detailed analysis and real-time trade ideas, follow me here at DollarsMagnet—where we focus on smart, strategic trading.Gold Trade Update – First Target HitOur bearish setup on gold has been activated perfectly. Since our entry, the market has followed the expected move and started falling. It has now touched our first target, delivering a solid 100+ pips in profit.Momentum remains bearish, and we’re now watching the next support levels at 3392, 3345, and 3324. Trade is running well—manage your positions accordingly and trail stops if needed.Like, comment, and follow for more updates and trade ideas. Let’s keep growing the DollarsMagnet trading community!