Technical analysis by Henrybillion about Symbol PAXG on 10/28/2025

Gold continues its bearish momentum, forming a clear lower-high structure after multiple failed attempts to break the resistance area around $4,075–4,085. The market has been respecting a descending trendline, signaling sustained selling pressure from institutional traders. At the moment, price is retesting the $3,930–3,935 zone — a key short-term support level that coincides with previous liquidity grabs. A decisive break below $3,922 could open the door toward the next demand zone near $3,830–3,805, where buyers may attempt a technical rebound. Technical Highlights: Trend: Bearish bias remains intact below $3,970. Resistance levels: $3,970 / $4,025 / $4,085 Support levels: $3,922 / $3,880 / $3,830 Indicators: Price remains below EMA20 and EMA50 on H1, while RSI hovers near oversold — suggesting a potential short-term pullback before further decline. Trading Strategy: Traders could look for short opportunities on minor pullbacks toward the $3,950–3,960 area, maintaining a stop above $3,970 and targeting the $3,830–3,805 zone. Conservative traders may wait for a confirmed close below $3,922 before joining the bearish leg. Overall, the structure still favors the downside unless price breaks and sustains above $3,970. - Stay alert to macro catalysts — especially upcoming U.S. data releases that could influence the dollar and bond yields.