Technical analysis by David_Thompson_9 about Symbol PAXG: Buy recommendation (1/6/2026)

From a technical analysis perspective, the gold trend remains positive, with prices consistently moving in a clear upward pattern where both highs and lows move higher, making it difficult for aggressive bearish views to gain sufficient grounds. As long as this upward structure remains intact, shorting gold aggressively is by no means a wise move. Traders should wait for a clear bearish signal before considering establishing a short position. Although the market is currently overbought, this alone is not enough to justify a sell-off. Regarding support levels, the $4350-$4380 range should be closely watched. This area served as a strong resistance level last October, and gold prices did not successfully break through it until December. At the beginning of this year, gold prices briefly fell below this range, but quickly recovered. Therefore, this range should become a strong support area during subsequent pullbacks. However, if gold prices continue to fall below this range, the bulls will be in a passive position, which may trigger a deeper pullback. The next important support level will be around $4,250. Once this price level is breached, gold prices will face no significant support before falling to the $4,000 range. Regarding resistance levels, $4,500 remains a key level. This price level is not only a psychologically significant round number, but also, judging from the market performance on December 29th last year, gold prices experienced a sharp drop after reaching this level, indicating that there is still a considerable amount of selling pressure above this position. XAUUSD GOLD1! XAUUSD GOLDG2026