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

XAUUSD Technical Analysis – Bearish Reversal Setup 1. Rising Wedge Formation (Bearish Pattern) Price is moving within an ascending wedge, a typical sign of weakening bullish momentum. The upper red zone marks resistance around $3400, where a reversal is anticipated. 2. Key Resistance Zone Hit The current price has entered a previous rejection area (highlighted in red), increasing the probability of selling pressure. 3. Support Zones & Trendlines Immediate support lies near the green ascending trendline and Ichimoku cloud (~$3373). A break below this level could confirm the start of a deeper correction. 4. Previous Patterns Symmetrical triangle and descending wedge previously broke to the upside, but now the market is overextended. 5. Potential Move If price fails to break above $3400 convincingly, expect a short-term retracement toward $3373, possibly $3340. --- 🔻 Summary: Bias: Bearish Reversal Resistance: $3400–$3405 Support: $3373 → $3340