Technical analysis by SMC-Trading-Point about Symbol PAXG on 7/1/2025

Technical analysis of (XAU/USD) based on price action and technical indicators on the 15-minute timeframe. Here's a --- Key Technical Insights:1. Resistance Level (Highlighted Yellow Zone):Price is approaching a strong resistance zone (previous rejection marked by red arrows).This area has historically pushed price downward.2. Trendline Support (Rising Black Line):Price has been following a short-term ascending trendline, forming higher lows.A break below this trendline signals potential bearish reversal.3. EMA 200 (Blue Line):Price is currently above the EMA 200, indicating short-term bullish momentum.However, price is testing resistance — a rejection could flip momentum bearish.4. Bearish Rejection & Projection:The chart shows an anticipated rejection from resistance, followed by a break of trendline support.Target zone is marked near 3,228.098, indicating a drop of ~94 points from the current level.5. RSI (Relative Strength Index):RSI is nearing overbought territory (68.79).A bearish divergence or RSI crossing down may confirm weakening momentum.Mr SMC Trading point --- Conclusion / Trading Idea:Bias: BearishEntry Zone: Near the resistance level (~3,322)Confirmation: Break of trendline supportTarget: 3,228Stop-Loss: Above resistance zone (just over the upper trendline)---pelas support boost 🚀 this analysis)