Technical analysis by FXOnTop about Symbol PAXG: Buy recommendation (7/7/2025)

Hi traders! , Analyzing XAU/USD on the 1H timeframe, price is currently bouncing off a long-term ascending trendline, showing signs of a potential bullish continuation: 🔹 Entry: 3318 🔹 Take Profit (TP): 3424 🔹 Stop Loss (SL): 3207 After testing the ascending trendline multiple times, gold is once again showing bullish rejection near support. Price remains above the key trendline and is attempting to form a higher low within the broader uptrend. The RSI is recovering from oversold territory (currently around 49), which suggests weakening selling pressure and possible buildup of bullish momentum. If the structure holds, the target at 3424 aligns with a previous resistance area and a natural extension of the upward channel. The risk-reward is favorable with a strong technical confluence backing the setup. ⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for managing their own risk and strategy.ensuring profits