Technical analysis by ElodieBlairFx about Symbol PAXG: Buy recommendation (6/18/2025)

Updated Technical Analysis – Gold (XAU/USD) – 30-Minute ChartChart Overview:Instrument: CFDs on Gold (USD/OZ)Timeframe: 30-minuteDate: June 18, 2025Price: $3,382.960Recent Move: -$3.640 (-0.11%)---Key Observations:1. Ascending Channel (Green Zone):Gold has been trending upwards within a well-defined ascending channel.The price has recently retraced from the upper boundary and is currently testing the midline/lower edge of the channel, indicating a potential rebound zone.2. Sideways Consolidation (Red Box):A rectangular consolidation has formed between approximately $3,360 and $3,400, indicating indecision in the market.Price has been ranging tightly within this box for the past couple of days.The consolidation is forming within the broader bullish channel, acting as a potential bullish continuation pattern.3. Price Action and Projections:The chart shows a possible bounce from the lower boundary of the consolidation and channel zones.A bullish breakout above $3,400 would likely signal a continuation of the uptrend toward the top of the channel (targeting ~$3,440–$3,460).---Conclusion:Gold is in a bullish trend but currently consolidating in a tight range. The support from the lower end of the consolidation and broader channel suggests a likely upside breakout. Watch for a confirmed move above $3,400 for bullish continuation. A breakdown below $3,360 would invalidate the bullish bias and could trigger a short-term pullback toward $3,320–$3,300.---Suggested Strategy:Bullish Bias: Buy on breakout above $3,400Stop Loss: Below $3,360Target Levels: $3,440 / $3,460