Technical analysis by Anna_Wade about Symbol PAXG: Sell recommendation (7/29/2025)

XAU/USD has been in a strong corrective downtrend after failing to hold the highs near $3,400. Price action is currently consolidating in a bearish flag/channel pattern, which is a classic continuation setup. The recent bounce appears corrective in nature and is struggling near resistance, suggesting that bears remain in control. The pattern favors a potential breakdown continuation, offering a high-probability short setup. Current Price: 3,322 Short Entry: Current level or on a slight pullback Take Profit: 3,285 – aligned with channel bottom and recent support Stop Loss SL: 3,333 – above channel resistance and previous structure Technical Confluences: Bearish Flag/Channel – Classic continuation formation following strong downward impulse Lower High Structure – Indicates weakness and bearish control Resistance Rejection – Price failing to break above $3,330 zone Volume Decline – Suggests lack of bullish conviction on pullback Clear RR Ratio – Tight stop with decent reward potential