Technical analysis by MALBERT3468 about Symbol PAXG: Buy recommendation (7/30/2025)

Technical Overview 1. Previous Trend (Before Box Zone): A sharp downtrend can be seen on the left. Followed by a rising channel (bearish flag) — this is typically a continuation pattern suggesting further downside. Price broke down from this rising channel, confirming the bearish continuation. 2. Current Price Action (Boxed Area): Price dropped significantly, then entered a consolidation/accumulation box (sideways movement). The chart shows a double bottom or accumulation structure with potential for reversal upward. A blue projected path indicates a possible bullish breakout from the accumulation zone. ✅ Entry Point Around $3,299.447 — current or slightly above current price. This is based on a potential reversal from the support line in the box. 🎯 Targets: TP1: Near $3,310 Final Target: Around $3,329.361 (where previous support turned resistance from the broken channel). ❌ Stop Loss: Just below the box, at $3,286.339, to protect against a bearish breakdown continuation. --- 🧠 Key Technical Concepts Involved: Bearish Flag Breakdown: Price broke below the flag, confirming weakness. Support Zone: Current price is consolidating in a demand zone. Bullish Reversal Pattern: Signs of a double bottom or accumulation phase. Risk Management: Clear stop loss and take-profit levels shown. --- 🔍 What to Watch: Confirmation of Breakout: Wait for a strong bullish candle above the top of the box or above $3,300 for added confirmation. Volume Spike: Ideally, breakout should be supported by rising volume. Macro Events: This chart also shows economic calendar icons at the bottom — likely US news/events. Be cautious as these can impact gold significantly. --- 📌 Conclusion: This is a bullish counter-trend setup after a sell-off. It anticipates a short-term recovery or relief rally toward previous support-turned-resistance. However, overall trend remains bearish, so caution is advised — especially near the $3,330 resistance.sorry guys stop loss hit