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

Gold (XAUUSD) recently broke a major ascending trendline that had held since late June, leading to an aggressive sell-off from the $3,440s down to the $3,270 zone. Following that, price is now consolidating just beneath the previous support trendline, forming what appears to be a bear flag or rising channel inside a corrective structure. The $3,330–$3,340 zone is now acting as resistance, and price is struggling to close above this level. The current structure suggests continuation to the downside, with clean space to revisit the $3,271 liquidity pool and potentially even sweep that low. Watch for bearish confirmation below the current flag – especially if price prints a rejection wick or engulfing candle at the upper edge of the box. ⸻ Key Levels: •Resistance: $3,330 – $3,340 (flag top + previous support turned resistance) •Support: $3,271 zone, followed by $3,248 sweep potential ⸻ Trigger Criteria: •Bearish rejection inside the flag (e.g. pin bar or engulfing) •Break and retest of the flag bottom or horizontal support ⸻ Risk Note: A clean break back above $3,350 and reclaim of the previous trendline would invalidate this idea short term and shift bias back to neutral/bullish.