Technical analysis by Henrybillion about Symbol PAXG on 7/25/2025

1. Technical Overview (15m timeframe): Gold (XAUUSD) is currently trading around 3,342.80, showing signs of continued downward momentum after forming a bearish reversal pattern from the 3,404–3,410 USD resistance area. The price action has now developed into a clear descending channel, with lower highs and lower lows forming in a structured manner. 2. Key Price Levels to Watch: Immediate Support Zone: 🔹 3,335 – 3,330 USD – This zone aligns with previous structure and the lower bound of the descending channel. A break below this area could accelerate selling pressure toward deeper Fibonacci zones. Next Major Support (Medium-term): 🔹 3,310 USD – A critical zone where price reacted strongly during the last pullback. A breakdown here would shift sentiment fully bearish in the short-term. Resistance Levels: 🔹 3,358 – 3,360 USD: Minor intraday resistance near the upper bound of the descending channel. 🔹 3,375 USD: EMA21 and previous structure level. 🔹 3,404 – 3,410 USD: Major confluence resistance from recent highs. 3. Price Action and Indicators: Descending Channel: Price is respecting the upper and lower trendlines of the bearish channel. No bullish breakout signal confirmed. Volume: Decreasing on the bounce, rising on the decline – a bearish volume structure. RSI: Near oversold (not shown, but implied from price exhaustion), could suggest a bounce, but no divergence confirmation yet. EMA Trend: EMA21 and EMA50 (not shown but assumed from price slope) are likely crossing downward on higher timeframes, reinforcing bearish pressure. 4. Strategy Suggestion – Scenarios for Intraday Traders: 🔻 Scenario A – Continuation Short (Sell on Retracement) Entry: Around 3,358–3,360 (upper bound of descending channel). SL: Above 3,365. TP1: 3,335 TP2: 3,310 Confirmation: Look for bearish engulfing or pin bar rejections on the 5m–15m timeframe. 🔺 Scenario B – Countertrend Long (Bounce from Channel Base) Entry: Near 3,330–3,335 (support zone). SL: Below 3,325. TP1: 3,350 TP2: 3,360 Note: This is a riskier trade and should only be taken with bullish reversal confirmation (hammer, bullish divergence on RSI, or break of structure on LTF). 5. Summary: Gold is currently in a short-term bearish correction, respecting a well-defined descending channel. Price is approaching a critical support zone (3,330–3,335), where a potential intraday bounce may occur, but trend remains bearish unless a clear break