GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Breakout from higher low formation and bullish triangle

- Price above 50-SMA with strong momentum and pattern confirmation

- RSI suggests caution, but trend remains in buyers' control

Gold has powered through key resistance at $3,350, breaking above the 50-period SMA ($3,273.07) and pushing into a tight descending triangle structure.

Price is now testing the upper boundary of this triangle, which has consistently held since the late-April rejection near $3,449.

The recent rally began after a firm higher low formation near $3,222, confirming bullish structure within a broader ascending channel.

Candlestick momentum is strong, with a near-vertical series of bullish candles—visually resembling a short-term "three white soldiers" pattern.

This signifies aggressive buyer interest. The RSI reading at 73.79 suggests overbought conditions, but no bearish divergence is present yet. Momentum remains intact, though traders should be cautious of potential exhaustion near the $3,408 resistance.

If the breakout clears $3,409 with conviction, the next targets become $3,449 and $3,499.80. A pullback toward $3,305 would still keep the structure intact if buyers defend that level.

Below that, $3,271 and $3,222 remain deeper support. The risk-reward favors the long side for now, with bullish bias maintained above $3,350.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 3350

Take Profit – 3408

Stop Loss – 3305

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$5800/ -$4500

Profit & Loss Per Mini Lot = +$580/ -$450