Daily Price Outlook 

- Gold holds steady at $2034.40, with pivot point support at $2,017.23 suggesting a cautious market stance.

- Resistance levels up to $2,086.48 challenge bullish momentum, while supports down to $1,944.97 provide downside protection.

- Neutral RSI and bullish hint from MACD signal potential swings, with advised trading strategy including a sell limit at 2033.

Gold remains subdued in today’s session, recording a minor decline to $2034.40, down by 0.07%. The precious metal hovers near a pivot point of $2,017.23, facing immediate resistance levels at $2,042.32, $2,065.40, and $2,086.48. These thresholds will challenge any bullish attempts. On the downside, supports are established at $1,995.15, followed by $1,972.07 and $1,944.97, crucial for preventing further dips.

The Relative Strength Index (RSI) reads at a neutral 50, suggesting a market in balance, while the MACD exhibits a value of 0.57 against a signal of -1.087, hinting at a latent bullish undertone. The 50-day EMA at $2,032.56 closely aligns with the pivot, indicating a potential inflection point for price direction.

Concluding, today’s gold market presents a tactical opportunity, recommending a sell limit at 2033, targeting profits at 2014, with a stop loss set at 2045, navigating through a market that treads cautiously.

GOLD Price Chart - Source: Tradingview
GOLD Price Chart - Source: Tradingview

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Limit 2033

Take Profit – 2014

Stop Loss – 2045

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1900/ -$1200

Profit & Loss Per Mini Lot = +$190/ -$120



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