Technical analysis by Mohamed-Ayman11 about Symbol PAXG on 6 hour ago

Gold is currently trading near its all-time high (ATH) and the upper boundary of a short-term ascending channel. This zone has acted as a strong resistance area, where price has been rejected multiple times in the past. As long as price remains below this resistance, a bearish reaction is expected. The base case is a pullback toward the lower boundary of the ascending channel, which serves as the minimum downside target. If price breaks above the channel top, prints a new high, and a strong candle closes above the resistance zone, the bearish scenario targeting the channel low will be invalidated. With the year-end approaching, low liquidity conditions increase the probability of fake breakouts and false moves. Extra caution and confirmation are required before taking any breakout trades.