GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Price is compressing inside a symmetrical triangle with ascending trendline support.

- RSI divergence and multiple doji/spinning top candles show indecision.

- Watch for a confirmed breakout above $3,313 or breakdown below $3,273.

Gold is consolidating just above an ascending trendline support drawn from the April 19 low, while capped below a descending channel top from the $3,410 swing high. The price is coiling inside a symmetrical triangle, suggesting a breakout is likely.

Price is currently below the 50-period EMA ($3,313.50), which is acting as dynamic resistance, while support remains intact near $3,306.94 and the broader $3,273.00 zone.

Recent candles show multiple spinning tops and small-bodied dojis, reflecting indecision at a key technical junction. The absence of momentum suggests traders are awaiting a fundamental catalyst.

However, price action continues to print higher lows, showing underlying bullish intent. A close above $3,313.50 could trigger a bullish continuation toward $3,352.47, and potentially $3,379.07.

The Relative Strength Index (RSI) is hovering around 45.68, below the midpoint, and diverging slightly from price—a potential sign of fading downside pressure.

No bearish engulfing or three black crows are visible on this timeframe, but the failure to print a clean bullish engulfing or hammer near support also implies hesitancy among buyers.

If gold fails to hold above $3,306.94, it may retest the ascending trendline near $3,273.00. Below that, key horizontal support rests at $3,246.38 and then $3,212.28.

Overall, a break above the triangle and reclaim of the 50 EMA could shift short-term sentiment back to bullish.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3307

Take Profit – 3352

Stop Loss – 3273

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$4500/ -$3400

Profit & Loss Per Mini Lot = +$450/ -$340