Technical analysis by MeeCoin about Symbol PAXG: Sell recommendation (9/4/2025)

On the weekly timeframe, XAUUSD is showing a bearish divergence signal. The daily chart indicates selling pressure as profit-taking emerges around the $3,577 peak. A potential short setup could form near the previous high, especially if the daily RSI drops below 70. In my view, this level presents an attractive shorting opportunity. This analysis is for reference only and should not be considered financial advice.Update 1: XAUUSD XAU continues its strong rally, reaching the weekly resistance level. I am waiting for a clear signal of the daily RSI moving back below 70 to consider a short position. Apologies for plotting the target a bit too early, but I want to emphasize that entering a short trade while the RSI is still rising within the overbought zone (above 70) carries significant risk. Instead, it’s safer to wait for the RSI to roll over and exit the 70 zone, which will provide a cleaner short entry. This analysis is for reference only and should not be considered financial advice.Update 2: Trade Cancelled Gold continues its strong upward momentum with no signs of reversal on the daily timeframe. As mentioned earlier, I will not enter a position until the daily RSI drops back below the 70 level. Therefore, I’ve decided to skip this trade, as weekly timeframe setups generally take longer to play out. I will provide a more precise outlook once clearer reversal signals appear.