GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold trades within a falling wedge; bearish continuation likely.

- RSI is oversold, but lacking bullish reversal signals.

- Breakdown below $3,222 opens door to $3,187 and $3,153.

Gold (XAU/USD) remains entrenched in a descending wedge pattern, struggling to reclaim resistance above $3,260. The price has sharply declined from April highs, forming a series of lower highs and lower lows, with clear rejection from the $3,314 zone.

Candlestick structure is bearish, including a series of red-bodied candles and a breakdown through $3,261, reinforcing downside bias. The 50 SMA at $3,299 continues to act as dynamic resistance.

The RSI sits near 30.2, teetering on the edge of oversold territory without showing divergence—suggesting sellers remain in control. The presence of a spinning top followed by another bearish candle hints at indecision followed by renewed pressure.

If $3,222 breaks, expect a slide toward $3,188 and $3,153. For bulls to regain momentum, a decisive close above $3,260 and the wedge’s upper trendline is essential. Until then, short positions remain technically favorable.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3260

Take Profit – 3187

Stop Loss – 3295

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$7300/ -$3500

Profit & Loss Per Mini Lot = +$730/ -$350