Technical analysis by jiqeu1 about Symbol PAXG: Sell recommendation (11/3/2025)

https://www.tradingview.com/x/nWHhiFWQ/ Last week was undoubtedly a bad week for gold. Easing US-China relations, a hawkish stance from the Federal Reserve, a strong dollar, and reduced geopolitical risks significantly weakened safe-haven buying—all unfavorable for gold prices. Even so, gold prices held firm above $3900, demonstrating remarkable resilience. November to January is traditionally a strong period for gold, a seasonal pattern that has persisted for over a decade. Each instance of "reconciliation" in US-China relations is followed by a resurgence, meaning gold still faces upside risks. What's the outlook for gold today? Currently, the market is range-bound, with neither bullish nor bearish momentum showing any clear direction. The recommended strategy is to buy low and sell high based on support and resistance levels, rather than chasing highs and lows. The overall market is still oscillating within the 3850-4150 range. The 3880 area, which has been tested twice without a break below, has become a key support level. If the price fails to break through this level, it will likely encounter resistance and rebound. Gold opened lower today, and is likely to continue its downward trend initially. Currently, it's in a daily-level correction, but the correction is relatively weak. However, after a week of continuous declines, gold is bound to face uncertainty, so risk management is still necessary. The initial resistance level to watch is the psychological level of 4000; Gold: Short at around 4000-4003, stop loss at 4015, target 3960, break below to 3920!Now is a good time to short sell.We need to patiently wait for gold prices to fall.