GOLD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- Trendline Support: $3,300 holds as a critical base.

- Momentum Building: Higher lows signal potential recovery.

- Resistance Cluster: $3,352 to $3,385 remains a critical barrier.

Gold is attempting to recover after finding support at $3,300, aligning with a key ascending trendline that has held since late April. This level coincides with a psychological support zone, providing a potential base for a bullish rebound.

The 50 SMA at $3,355 is acting as immediate resistance, with the next target at $3,352, followed by a more significant barrier at $3,357.

If prices can clear this zone, a move toward $3,385 is possible. However, a break below $3,300 could expose the metal to a deeper decline toward $3,273, aligning with the broader trendline support.

The RSI is currently at 46.68, indicating a neutral stance but with room for further upside if momentum picks up. The recent higher lows pattern suggests building bullish momentum, but the 50 SMA still caps near-term gains.

Notably, the recent candlestick pattern shows a mix of spinning tops and small-bodied candles, reflecting market indecision as traders await a clearer direction.

A break above $3,352 could trigger a push toward $3,385, while a drop below $3,300 risks a retest of $3,273. Traders should watch for a decisive move to confirm the next trend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above $3300

Take Profit – $3352

Stop Loss – $3273

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$5200/ -$2700

Profit & Loss Per Mini Lot = +$520/ -$270