Technical analysis by alirezak about Symbol PAXG: Buy recommendation (7/17/2025)

Dear Traders, The chart shows that XAU/USD is currently trading near the bottom of a long-term ascending channel (blue lines). At the same time, a descending triangle pattern (red lines) indicates bearish pressure. 🔹 Price is around $3,331, and a strong support zone near $3,285–$3,290 is highlighted. This area could serve as a launch point for a bullish reaction. 🔹 If price bounces here, the expected move could aim for the upper triangle resistance zone around $3,380–$3,390. 🔹 The invalidation level is at $3,245. A break below this level would negate the bullish scenario and potentially lead to further decline. 📌 Summary: Key support: $3,285–$3,290 Bullish target: $3,380–$3,390 Invalidation level: $3,245 Regards, Alireza!