Technical analysis by decentshaw about Symbol PAXG: Buy recommendation (8/6/2025)

Gold Technical Update: Gold is currently exhibiting a bullish market structure, forming a bullish flag pattern on both the 4H and Daily timeframes, alongside an ascending triangle formation. Once this pattern completes, a breakout above the 3390 resistance is likely, potentially pushing the price toward the 3400–3430 zone. Price remains above the Ichimoku Cloud, which indicates continued bullish momentum and provides a strong support zone around 3345–3352, reinforced by moving averages and structural support levels. Today, the price has made a higher low at 3358, compared to the previous day’s low, suggesting strength in the current uptrend. A break above the psychological level of 3400 is anticipated, which could trigger bullish continuation toward 3430. In light of the current technical setup, I maintain a bullish outlook, expecting the trend to continue. However, this view will be reassessed if price breaks below the daily lows of Tuesday and Wednesday, and closes below the 50-day moving average. Good luck and trade safe!