Technical analysis by Samantha-Urfe about Symbol PAXG: Sell recommendation (7/21/2025)

📊 Description: Gold (XAUUSD) appears to be forming a bearish reversal structure following multiple key rejections at the $3,375 resistance zone. After a strong bullish channel (highlighted in yellow) leading into the mid-July highs, the market showed signs of exhaustion. 🔍 Key Technical Highlights: Bearish Reversal Pattern: After testing the upper resistance zone near $3,375–$3,385, price action formed a rising wedge, followed by breakdowns into symmetrical triangle and descending wedge patterns — all pointing to a weakening bullish momentum. Ichimoku Cloud: Price is hovering around the cloud with Kijun-Sen resistance at $3,346, signaling consolidation and potential bearish continuation. Double Top Zone: The highlighted red zone has been tested multiple times and acted as a strong supply area. Support Zone: The green support zone near $3,310–$3,315 held multiple times in the past, but each bounce is weaker, suggesting a likely break below on the next test. Projected Move: As price failed to break and sustain above the $3,355–$3,360 level, and broke below the ascending structure, a move toward $3,320 or lower is likely, especially if price breaks below $3,340 with strong volume. 🧠 Trading Insight: Sellers are likely to take control below the current Ichimoku cloud, with a short bias valid as long as price remains below $3,360. Confirmation would come on a decisive break below $3,340.