GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold trades below the pivot at $2,654.36, with immediate resistance at $2,672.93.

- RSI at 36 signals approaching oversold conditions, maintaining a bearish outlook.

- Entry strategy: Sell Stop $2,647, Take Profit $2,634, Stop Loss $2,659.

Gold (XAU/USD) remains under pressure, trading near $2,648.85, down 0.14% as bearish momentum dominates the session. On the 4-hour chart, Gold has slipped below the key pivot point at $2,654.36, indicating weak sentiment.

Immediate resistance stands at $2,672.93, where the 50-EMA sits slightly higher at $2,678.78, capping upside movement. A sustained push above this level could expose Gold to the next resistance levels at $2,690.55 and $2,707.78.

On the downside, immediate support holds firm at $2,634.28, with sellers eyeing the next critical levels at $2,617.80 and $2,601.58.

The Relative Strength Index (RSI) sits at 36, suggesting Gold is approaching oversold territory but still maintaining a bearish bias.

Technical indicators confirm downward pressure, as the price trades below both the pivot point and the 50-EMA, signaling strong seller control. If bears maintain momentum, a break below $2,634.28 could trigger a sharper decline.

However, any reversal above the $2,654.36 pivot would shift sentiment back in favor of the bulls, though immediate upside remains limited.

Conclusion: A Sell Stop entry at $2,647 is favored, targeting $2,634 as a take-profit level, with a stop-loss at $2,659 to mitigate risk.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Stop 2647

Take Profit – 2634

Stop Loss – 2659

Risk to Reward – 1: 1.08

Profit & Loss Per Standard Lot = +$1300/ -$1200

Profit & Loss Per Mini Lot = +$130/ -$120