Technical analysis by jiqeu1 about Symbol PAXG: Sell recommendation (11/5/2025)

https://www.tradingview.com/x/dg1Zej1I/ The US dollar index hit a three-month high on Tuesday, making gold relatively expensive for investors holding other currencies. Factors supporting the dollar included safe-haven buying and a sharp drop in the pound after a speech by the UK Chancellor of the Exchequer. The recent strength of the dollar and pressure on the gold market stem from the reduced likelihood of a Federal Reserve rate cut in December. Since last week, the probability of a rate cut has decreased, and the timing has changed. If this trend continues, I believe gold prices may continue to be under pressure. My view on gold's performance today! Gold traded sideways yesterday, repeatedly encountering resistance at the $4000 level. After a failed attempt to break through, it experienced a sharp drop, consistent with our bearish expectations. The breakdown is a normal market occurrence. After all, a break below $3960 inevitably leads to a faster decline, and yesterday it ultimately fell to around $3928, closing with a large bearish candle on the daily chart! In terms of price action, gold's upward momentum is weak on the 4-hour chart. Yesterday's high is acting as resistance around 3975, while the area around 3962 is the point where the price broke down and accelerated its decline. Currently, the bulls are under significant pressure. Unlike the previous consecutive days of gains, this week has been characterized by weak consolidation. Therefore, we maintain our short-selling strategy. Gold: Short around 3962-65, stop-loss at 75, target 3930-3905!After a brief adjustment, gold is expected to begin its decline.The bearish outlook for gold remains unchanged.