Technical analysis by Henrybillion about Symbol PAXG on 7/4/2025

On the 4-hour timeframe (H4), XAUUSD is clearly consolidating just below the key resistance zone near $3,366, forming higher lows and lower highs within a tightening range highlighted by the shaded area.1. Key Price Action HighlightsPrice has been forming higher lows, suggesting growing bullish momentum.The $3,366 resistance remains intact – a breakout above this level could confirm bullish continuation.A visible double bottom (W pattern) formed around June 28 hints at a strong technical rebound after a correction phase.2. Important Support and Resistance LevelsPrice LevelSignificance$3,366 – $3,380Major resistance zone – likely breakout target$3,300Key near-term support where price recently bounced$3,242Deeper support – a breakdown here could confirm bearish reversal3. Suggested Trading StrategyBuy on breakout above $3,366 with strong volume and clear confirmation (e.g., a large-bodied candle closing above resistance).Consider buying on a pullback to the $3,320 – $3,300 zone for better risk-reward.Stay cautious if price breaks below $3,300 – this could signal a bearish shift in momentum. Gold is currently in a tight consolidation phase under major resistance, with bullish structure still intact. A breakout above $3,366 could trigger a sharp move upward. Until then, traders should monitor the lower boundaries for potential pullbacks or invalidation signals.