GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Gold remains trapped in a bearish channel with weak bullish divergence.

- Spinning top candlestick suggests hesitation near $3,260.

- 50 EMA at $3,313 caps upside and affirms bearish control.

Gold is trading within a descending channel after failing to sustain above the $3,294.47 resistance, corresponding with the 78.6% Fibonacci retracement level from the April high to recent lows.

Price recently rebounded from the $3,202.89 low, printing a modest sequence of higher lows that hint at a short-term recovery attempt, but overall bias remains bearish unless price breaks above the channel resistance.

Technically, a spinning top formed on the latest 4H candle signals indecision after a small bullish impulse. RSI stands at 44.04, still below the 50 neutral line, reflecting sluggish momentum.

There’s also a mild bullish divergence between RSI and price lows, suggesting downside momentum may be fading—but it's not strong enough to flip sentiment without confirmation.

The 50-SMA at $3,313.58 continues to slope downward, reinforcing resistance around the $3,294 pivot. Price is currently pressing against the 38.2% Fib level at $3,247, and struggling to reclaim ground above the $3,261 midpoint. Until bulls can close decisively above $3,294, rallies may be sold.

Key support lies at $3,230, the 23.6% Fib, followed by the recent swing low at $3,202. A drop below $3,230 could invite another wave of selling, potentially forming a three black crows pattern if the next candles turn aggressively bearish.

A bearish bias holds unless price breaks and holds above $3,294 with volume.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3230

Take Profit – 3294

Stop Loss – 3197

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$6400/ -$3300

Profit & Loss Per Mini Lot = +$640/ -$330