Technical analysis by Harry_Megat about Symbol PAXG: Sell recommendation (7/24/2025)

Chart Analysis Gold (XAU/USD) **Bearish Outlook (Short-Term)** * **Price is below EMA 7 and EMA 21**, showing short-term bearish momentum. * Strong **resistance zone** around **\$3,430–\$3,440** was rejected sharply. * Price has broken below **\$3,405–\$3,395** support and is now **consolidating above \$3,385–\$3,380**, a critical support area. * Volume is rising on red candles, supporting **selling pressure**. **Key Support Zone:** \$3,380 – If broken, next downside targets: → **\$3,370** → **\$3,360** *Bullish Scenario (If Support Holds)** * If **\$3,380** holds and price reclaims above **\$3,395**, a **bounce toward \$3,405–\$3,410** is possible. * Look for a **break above EMA21 (currently near \$3,402)** for bullish confirmation.Update Bearish setup from $3,380** worked perfectly, hitting the downside target at **\$3,363**. Trade Recap: * **Break below \$3,380** triggered the bearish move * Price hit both targets: → **TP1: \$3,370** → **TP2: \$3,360–\$3,363 zone** Next Watch for: * **Rebound from \$3,360–\$3,355** support zone * Or continuation lower if that zone breaks → next possible support around **\$3,345–\$3,340****Update: Bearish Target Hit — \$3,343 Reached!** bearish continuation from **\$3,380 → \$3,360 → \$3,343** played out **perfectly** again. **Trade Recap Summary** * 🔻 **Entry**: Break below \$3,380 * 🎯 **TP1**: \$3,370 ✅ * 🎯 **TP2**: \$3,360–\$3,355 ✅ * 🎯 **Final Target**: **\$3,345–\$3,340 zone** ✅ → **Low hit: \$3,343** **Next Zones to Watch** 1. **Immediate Support**: \$3,340–\$3,335 → Price may pause or bounce here short-term 2. **If Breaks Further Down** * 🧲 Next target: **\$3,326** (marked “Strong Low” on your chart) * After that: **\$3,310–\$3,295** zone 3. **If Rebounds** * Watch for resistance re-tests at: * \$3,355 * \$3,368 (EMA zone) * \$3,377 (cloud + structure) Tip: Lock profits or trail SL if still holding shorts — we are in an extended bearish move and price is nearing a demand zone.