GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Immediate selling pressure below $3,350 could expose $3,300.

- RSI remains in oversold territory, suggesting caution for buyers.

- A close below $3,301 confirms bearish control, potentially targeting $3,265.

Gold is trading near $3,337, struggling to hold the 50-hour simple moving average (SMA) at $3,384 after a sharp rejection from the 23.6% Fibonacci retracement level at $3,381.

The price is currently testing the 50% Fibonacci retracement at $3,325, a critical support level, with the 61.8% level at $3,301 acting as a potential next downside target if selling pressure continues.

The short-term outlook remains bearish, with a potential sell entry below $3,350 targeting $3,300, while a protective stop-loss above $3,382 reduces downside risk.

A close below the 61.8% level at $3,301 could accelerate the decline toward the $3,265 support, completing a potential three black crows pattern on lower timeframes, confirming further weakness.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3350

Take Profit – 3300

Stop Loss – 3382

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$5000/ -$3200

Profit & Loss Per Mini Lot = +$500/ -$320