Technical analysis by jiqeu1 about Symbol PAXG: Sell recommendation (11/6/2025)

https://www.tradingview.com/x/51bG9bqo/ Gold prices surged over 1% on Wednesday, despite stronger-than-expected US private sector employment data. Investors sought to avoid risk assets, with gold benefiting from safe-haven demand as investors worried about overvalued equities. Uncertainty surrounding Trump's tariffs also triggered some safe-haven buying. Gold prices climbed over 1% on Wednesday, with safe-haven demand and dovish comments from the Federal Reserve keeping prices around $3980/ounce. Traders are closely watching the US Supreme Court hearing on tariffs. What's your view on gold's movement today? Gold has fallen for the second time from 4060 to around 3885 on the 4-hour chart, breaking directly below the strong upward trend. A correction is inevitable. Until the end of last month, we maintained a bullish outlook, but this week's decline necessitates a shift to a short-selling strategy. Currently, the price is consolidating below the 4-hour chart's middle band, and the real correction hasn't begun yet. Even within this consolidation, there is significant resistance above 3990 during the daytime session. The price is currently finding support around 3930. This level has been tested twice this week without a decisive break, so a rebound is possible during the European session. However, significant resistance is seen around 3990; shorting is recommended near this area. A break below 3930 would indicate further downside, ultimately testing the 3880-50 support zone again. Intraday, patiently wait for a rebound before shorting. Gold: Short near 3990, stop-loss at 4005, target 3960.Gold has now reached our predetermined buying level.The overall outlook remains unchanged; the downtrend is very stable.