Technical analysis by Lingrid about Symbol PAXG: Buy recommendation (20 hour ago)

XAUUSD has been consolidating, moving inside a descending channel after a sharp rejection from resistance. Structure shows a wedge followed by a triangle pattern inside the downward trendline, pointing to compression before a potential breakout. A bullish scenario opens if price bounces from support near 3,315 and breaks above the 3,380 resistance handle. Overall, broader context shows gold locked in a sideways move but coiling into a corrective structure that could fuel a bullish rally. 📉 Key Levels: Buy trigger: Rejection at 3,320 Buy zone: 3,310–3,320 support area. Target: 3,380 then 3,431. Invalidation: Sustained close below 3,270 support. 💡 Risks: Failure to break the downward trendline, keeping bearish momentum intact. Weak buying volume near support, leading to breakdown continuation. Broader macro pressure from USD strength or yields limiting upside momentum. If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!