Technical analysis by Trading-Diary_Steffen about Symbol PAXG: Buy recommendation (8/12/2025)

I still hold a long position in gold. Although gold has not continued its rebound and is relatively weak, it has tested around 3340-3330 many times but has never fallen below it. As long as gold remains above 3340-3330, gold bulls may sound the clarion call for a counterattack at any time. Gold has been falling frequently and seems to be shaky, but it has always held the area near 3340-3330. I think the frequent decline of gold is a false signal to trap the short sellers. Why do I think so? 1st, the area around 3340-3330 is the support level of the bullish structure and the last line of defense. It is unlikely that gold will effectively fall below this area in the short term. 2nd, this upward trend began around 3268 and reached a high around 3409.The area around 3340-3330 is exactly the 50% retracement area of this band, which has relatively strong support. So from a technical perspective, I think gold is currently accumulating energy, exchanging time for space. Gold bulls may explode at any time, thereby triggering a gold rally!We almost caught the bottom area of this band and went long on gold. Obviously, our profit has increased significantly again. Have you followed my trading strategy to go long on gold?