Technical analysis by Market_Trader about Symbol PAXG on 9/4/2025

Gold prices have been falling steadily in early Asian trading, disrupting the bullish momentum and causing losses. This short-term impact on bullish sentiment has prompted gold to enter a correction cycle, likely characterized by volatility, pending the release of US ADP data for a new trend. However, judging from the current situation, with the weak ADP data, gold is likely to enter a downward trend. On the 1-hour chart, after a surge and subsequent decline, prices have continued to decline, breaking through the 3545 support level, reaching a low of 3511.41 before rebounding slightly and remaining in a range around 3530. In the short term, a head-and-shoulders pattern is likely forming on the 1-hour chart, which warrants close attention. Gold prices have already risen significantly, prompting a constant alert for a reversal. Trading strategy: Short gold near 3545, with a stop-loss at 3555 and a target range of 3510-3500. You can continue to hold after it falls below 3500.