Technical analysis by alirezak about Symbol PAXG: Buy recommendation (7/9/2025)

Dear Traders,Price Context:Gold (XAUUSD) is currently trading around $3285, having broken below the mid-channel level.Key Levels:Support Zone (Buy Area): Marked between ~$3270–$3280 (includes 0.786 Fibonacci level at 3270).Resistance: $3366 (previous high, strong resistance).Trendline:An ascending trendline intersects with the buy zone, increasing the probability of a bullish reaction.Potential Scenarios:Bullish Reversal: A bounce from the current buy zone could trigger a move toward $3366.Bearish Continuation: If price breaks and closes below $3270 with strong momentum, next support would be around $3242.RSI Indicator:Currently near oversold territory (~38), which supports a potential bounce.📌 Conclusion:This is a critical zone; watch for price action signals near the trendline and 0.786 level. Reversal is possible, but further downside risk remains if $3270 fails.Regards,Alireza!I think the 3272–3278 zone will be reached today.