Technical analysis by Henrybillion about Symbol PAXG on 9/11/2025

Gold continues to respect its bullish structure after breaking out of the ascending channel and is currently unfolding a potential short-term Elliott Wave (3)–(5) pattern. Price is consolidating around $3,630–$3,640 after a corrective pullback. Technical Outlook Trendline: The bullish channel remains intact; no breakdown of structure yet. Key Resistance: $3,685–$3,700 (previous Wave (1) top). A clean breakout above this zone may open the door toward $3,720–$3,740. Immediate Support: $3,615–$3,605 (Wave (2) low). Holding above keeps the bullish scenario valid; a breakdown may drag price back to $3,585. EMA 50 & 100 (H1): Both acting as dynamic support, confirming bullish bias. RSI (H1): Cooling down from overbought, creating fresh upside room. Fibonacci retracement: Wave (2) corrected neatly around the 38.2% retracement, reinforcing the continuation scenario. Trading Strategy Buy zone: $3,615–$3,620, with stop-loss below $3,600. Take profit 1: $3,685–$3,700. Take profit 2 (if breakout holds): $3,720–$3,740. If price breaks below $3,600, step aside and wait for new signals. The main bias remains bullish. Focus on trading the impulsive waves and watch closely how price reacts at $3,615 support and $3,685 resistance.