Technical analysis by Moriss365 about Symbol PAXG: Buy recommendation (1/5/2026)

Market Structure Overall bias: Bullish Price is forming higher highs and higher lows, confirming an intraday uptrend. The blue ascending channel shows strong bullish momentum with controlled pullbacks. 🧱 Key Levels 🔴 Support Zone (Demand) Primary support: ~4,338 – 4,360 This zone acted as: Previous consolidation Breakout base Retest area after the impulsive move up As long as price holds above this zone, buyers remain in control. 🟢 Resistance / Target Major resistance / target: ~4,450 – 4,460 This aligns with: Measured move projection Prior swing high resistance Marked “TARGET POINT” on your chart 📈 Price Action Insight Strong impulsive bullish leg followed by a shallow pullback → healthy trend. Current pullback looks corrective, not impulsive (suggesting continuation). The projected zigzag suggests: Minor dip toward mid-channel / support Then continuation toward the upside target 🧠 Trading Scenarios ✅ Bullish Continuation (Higher Probability) Hold above 4,360 Bullish candle confirmation (engulfing / strong close) Targets: TP1: 4,415 TP2: 4,450+ Ideal for buy-the-dip strategies ⚠️ Bearish Invalidation Strong close below 4,338 Would break: Support zone Channel structure Could open downside toward 4,300 – 4,280 📊 Momentum & Psychology Buyers are defending pullbacks aggressively No major rejection wick at the highs yet → no clear distribution Trend traders likely still adding on dips 🧾 Summary Trend: Bullish Support: 4,338 – 4,360 Target: 4,450+ Strategy: Buy pullbacks while above support