Daily Price Outlook

- Gold at $2340.955, down 0.04%, under selling pressure below $2351.55 pivot.

- Key resistance levels: $2367.11, $2380.52, and $2392.98; support at $2326.59, $2307.51.

- RSI at 43, 50 EMA at $2360.85; bearish sentiment persists, sell below $2350 recommended.

Gold (XAU/USD) is currently priced at $2340.955, down 0.04%, indicating a slight decline in market sentiment.

The pivot point, marked by the green line, stands at $2351.55. Immediate resistance levels are at $2367.11, $2380.52, and $2392.98. On the downside, immediate support is found at $2326.59, with further supports at $2307.51 and $2286.08.

The 50-day Exponential Moving Average (EMA) is at $2360.85, suggesting potential resistance. The Relative Strength Index (RSI) is at 43, indicating a moderately bearish momentum. These indicators highlight that gold is currently facing selling pressure below the pivot point of $2351.55.

For traders looking to capitalize on this trend, an entry price is recommended below $2350, with a take profit target set at $2325. A stop loss should be placed at $2366 to manage risk. In conclusion, Gold (XAU/USD) is under pressure below the pivot point of $2351.55, with technical indicators supporting a bearish outlook.

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

GOLD (XAU/USD) - Technical Analysis

Entry Price – Sell Below 2350

Take Profit – 2325

Stop Loss – 2366

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$2500/ -$1600

Profit & Loss Per Mini Lot = +$250/ -$160



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