Technical analysis by Peter_Wade about Symbol PAXG on 7/10/2025

🔍 GOLD – Market Structure Break & Bearish Reaction from Supply ZoneGold has recently broken its market structure (MSS), which is a significant shift in momentum and a potential indication of a change in the prevailing trend. Following this break, price retraced into a key supply zone, where it was rejected sharply—this rejection came in the form of a strong bearish engulfing candle, highlighting aggressive selling interest.Interestingly, the market has now printed a second consecutive bearish engulfing from the same zone. This is a powerful signal that sellers are active and defending this level, making it a valid and confirmed short-term resistance zone. The repeated rejection suggests that smart money or institutional sellers may be positioned here.Given this price action, we can anticipate a potential retracement from the current levels. The most probable downside target for this retracement would be the Fair Value Gap (FVG) that has been marked on the chart. If price respects the FVG and reacts bullishly from there, we may then see a resumption of the uptrend, possibly taking price higher again.This setup presents a good opportunity for both short-term intraday traders and swing traders to watch for confirmation signals before entering the trade.📌 Key Takeaways:MSS indicates shift in trendConsecutive bearish engulfing candles from supply zoneSellers likely active in this areaPotential retracement toward marked FVGPossible bullish continuation from FVG zone🚨 As always, Do Your Own Research (DYOR) and manage your risk accordingly before making any trading decisions.