Technical analysis by Henrybillion about Symbol PAXG on 11/5/2025

XAU/USD – Price Fails to Hold Above Resistance, Bearish Continuation Likely Gold (XAU/USD) continues to show weakness after failing to sustain above the $3,975–$3,980 resistance zone. The price structure on the 1-hour timeframe indicates a series of lower highs, confirming the ongoing short-term bearish trend. The recent recovery toward the neckline of the descending channel appears to be a technical retest before potential continuation to the downside. Sellers are currently defending the $3,975 area, which also aligns with a Fibonacci 50% retracement and previous liquidity sweep zone from early November. A clean break below $3,915 support could trigger further declines toward $3,886 — the next major demand area and measured move target of the previous swing leg. Key Technical Levels Resistance: $3,975 – $3,980 Support: $3,915 / $3,886 Bias: Bearish below $3,975 Trading Plan: Sell Setup: Watch for rejection candles around $3,975 → Target $3,915 / $3,886 Invalidation: A confirmed breakout above $3,980 may shift bias back to neutral RSI remains capped below the midline, reflecting limited bullish momentum, while price continues to respect the descending trendline structure. Until bulls reclaim the $3,980 zone decisively, the path of least resistance remains downward. If you find this analysis insightful, follow for more daily gold strategies and institutional-level insights.