GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold prices rise to $2,330.40, up 0.46%, with key resistance at $2,354.86.

- RSI at 44 suggests balanced momentum; 50-Day EMA at $2,341.46 as significant resistance.

- Sell below $2,342, target $2,316, and stop loss at $2,360 to manage risk.

Gold prices (XAU/USD) are currently trading at $2,330.40, up 0.46% on the four-hour chart. The metal has seen a slight uptick as it navigates through a complex technical landscape. Key price levels to watch include a pivot point at $2,341.28.

Immediate resistance is situated at $2,354.86, followed by further resistances at $2,364.43 and $2,376.47. On the downside, immediate support is found at $2,316.39, with subsequent supports at $2,304.52 and $2,292.00.

Technical indicators provide a mixed outlook. The Relative Strength Index (RSI) is currently at 44, suggesting that gold is neither overbought nor oversold, indicating potential for both upward and downward movements.

The 50-Day Exponential Moving Average (EMA) stands at $2,341.46, just above the current price, acting as a significant resistance level.

In the current market scenario, the strategic entry price is recommended below $2,342. A sell position at this level is advised with a take profit target set at $2,316. The stop loss should be placed at $2,360 to mitigate potential upward spikes that may breach the immediate resistance.

GOLD (XAU/USD) - Technical Analysis

Entry Price – Sell Below 2342

Take Profit – 2316

Stop Loss – 2360

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$2600/ -$1800

Profit & Loss Per Mini Lot = +$260/ -$180