Technical analysis by Moriss365 about Symbol PAXG: Buy recommendation (1/7/2026)

Market Structure Overall bias: Bullish, but currently in a pullback / consolidation phase. Price was moving inside a rising channel (blue), which confirms a healthy uptrend. The recent drop looks like a corrective retracement, not a trend reversal (so far). 🔑 *Key Levels Support* Zone Primary support: 4,360 – 4,380 Clearly marked as SUPPORT LEVEL on your chart. This zone aligns with: Prior structure support Demand area Invalidation: A strong hourly close below ~4,360 would weaken the bullish setup and open downside risk. Entry / Reaction Area 4,410 – 4,420 (around 4,416 on your chart) This is a decision zone: Bullish reaction here → continuation higher Breakdown → test of deeper support Resistance / Target Target zone: 4,500 – 4,505 Previous swing high Clear horizontal resistance Logical profit-taking area 🎯 Trade Idea Logic (Based on Your Markings) Bullish scenario (preferred): Price holds above 4,360 Bullish confirmation (strong bullish candle, rejection wick, higher low) Target: 4,500+ Risk–Reward: Very favorable (large upside vs defined downside) Bearish alternative: Clean break and close below 4,360 Would suggest: Channel failure Deeper retracement toward 4,320–4,300 📊 Indicators (Price Action Based) No signs of strong distribution yet. Pullback candles are smaller and corrective, not impulsive. Structure still printing higher lows. 🧠 Summary Trend: Bullish Current phase: Pullback into support Key decision level: 4,360 Upside target: 4,500 – 4,505 Bias: Buy-the-dip as long as support holds