Technical analysis by ClassicallegendFx about Symbol PAXG: Sell recommendation (12 hour ago)

Chart Overview: The chart shows that XAU/USD (Gold vs US Dollar) is currently trading around 4002.81, following a rejection from a near-term resistance zone. Key Levels: Resistance Zone: Around 4060–4150, where previous price rallies have failed. Support Line: Around 3880–3920, acting as a strong demand area in prior sessions. Technical Outlook: The market recently retested the minor resistance (around 4040–4050) and formed bearish candles, indicating selling pressure. The downward red arrow highlights potential continuation toward the support zone. The overall structure forms a lower high and lower low pattern, confirming a short-term bearish trend. If price breaks below 3900, it may open the door for deeper downside movement. Conversely, a break above 4050–4060 could invalidate this bearish scenario and suggest a potential retest of the upper resistance zone near 4150. Conclusion: Gold is showing bearish momentum, and unless price breaks above 4050, sellers may continue driving price down toward the 3900 support area.