Technical analysis by FirstNameHelen about Symbol PAXG: Sell recommendation (8/3/2025)

Hi folks today I'm prepared for you Gold analytics. From a structural perspective, the XAU chart indicates a recent shift to a bearish bias, following a clear breakdown from a large broadening wedge pattern. This development suggests that sellers have gained a significant advantage in the market. The price is now staging a corrective rally back towards the point of the breakdown, creating a critical test at the confluence of the broken trend line and the major horizontal resistance zone at 3375 - 3385. My analysis for a short position is based on a potential 'bull trap' scenario within this area. I believe the price may briefly push above the trend line to trap buyers, but the key condition is a swift and forceful rejection from within the resistance zone. If the price fails to hold its gains and reverses back below the trend line, it would be a strong confirmation of the underlying bearish pressure. This would likely trigger the next impulsive move downwards, and therefore, the primary goal for this scenario is set at the 3320 level, a logical objective following such a powerful rejection. If you like my analytics you may support me with your like/comment ❤️ Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.