Technical analysis by pips1000s about Symbol PAXG: Sell recommendation (6/29/2025)

✅ Structure: Market Trend: Recently bearish — clear lower highs and lower lows from mid-June. Current Price: ~$3274.65 Key Support Zone: $3255 – $3260 (tested and reacted) Resistance Zone: $3300 – $3310 (minor), $3360 (major breakdown point) ✅ Price Action: Gold dropped from ~$3400 to ~$3260 recently. Price is attempting a small rebound but hasn’t broken structure. Volume spike seen near $3260 – possible temporary demand area. ✅ ICT Concepts: The recent sell-off could be a liquidity grab below previous lows (sell-side liquidity taken). If price holds above $3260 and creates a bullish structure shift, there’s a chance of a reversal. 🌍 Fundamental Analysis (Geopolitical + Macro) 🔥 Geopolitical Tensions: Middle East tensions are still active (Iran-Israel conflict potential). Russia-Ukraine war continues to escalate, although slightly cooled down compared to earlier. These factors generally support gold as a safe haven, especially during equity market volatility. 💰 Interest Rates (US): As of June 2025: Fed has paused rate hikes for two months. Talks of potential rate cuts in Q3 if inflation continues to slow. US CPI is cooling — latest YoY around 2.3%, close to the Fed’s 2% target. Lower or stable rates favor gold, since lower yields reduce the opportunity cost of holding gold.