Technical analysis by Brillant_Capital about Symbol PAXG: Sell recommendation (7/14/2025)

Gold Price Analysis: Bearish Trend Likely to Continue Gold prices have been forming lower lows, signaling a sustained **bearish trend in the market. This downward movement indicates weakening bullish momentum, with sellers dominating price action. Currently, the price is moving in a secondary trend (a short-term correction within the broader primary trend). However, in the upcoming trading sessions, this secondary trend may conclude, leading to a resumption of the primary bearish trend. A key factor to watch is the emergence of a candlestick reversal pattern, such as a bearish engulfing or evening star formation, which could confirm further downside momentum. If such a pattern appears, gold prices may extend their decline, potentially testing the critical support level near $3,250. A decisive break below this level could accelerate selling pressure, opening the door for deeper corrections. On the upside, $3,450 remains a strong resistance zone. Any rebound attempts could face rejection near this level unless there is a significant shift in market sentiment—such as a dovish Fed policy change or renewed safe-haven demand. Traders should monitor key economic data, including inflation reports and interest rate decisions, as these factors heavily influence gold’s direction. Key Levels to Watch: - Support: $3,250 (Break below may trigger further selling) - Resistance: $3,450 (Reversal point if buyers regain control) Trading Strategy: - Short-term traders may look for selling opportunities near resistance levels, targeting $3,250. - Long-term investors should wait for a confirmed trend reversal before entering bullish positions.