Gold price showed short-term weakness in the latest session after failing to hold above the 20 EMA on the daily chart. As per the TradingView chart, gold has entered a minor correction phase, even though the overall trend remains bullish.
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Traders should be careful and trade only near important support and resistance levels.
🔑 Key Gold Intraday Levels (Spot Gold)
🔺 Resistance Levels
- 4320 – 4335 → Immediate resistance near 20 EMA
- 4385 – 4400 → Strong selling zone
🔻 Support Levels
- 4300 → Important psychological level
- 4265 – 4250 → Short-term support
- 4185 – 4200 → Strong support zone near 50 EMA
🟢 Gold Intraday Buy Signal
👉 Buy only if price sustains above 4320
- Buy Above: 4320 (with confirmation)
- Targets:
- 4350
- 4380
- Stop Loss: Below 4290
📌 This is a pullback buy strategy in a broader uptrend.
🔴 Gold Intraday Sell Signal
👉 Sell if price trades below 4300
- Sell Below: 4295
- Targets:
- 4265
- 4230
- Stop Loss: Above 4335
📌 Momentum is weak, so sell on rise strategy looks safer for intraday traders.
📉 Indicator View
- Price closed below 20 EMA, showing intraday weakness
- Stochastic RSI is in oversold zone, bounce possible but not confirmed
- Avoid trading in 4300–4320 range due to sideways movement
📌 Trading Strategy for Today
- Below 4300 → Prefer selling
- Above 4320 → Buy only on dip
- Wait for price action confirmation, especially during US market hours
❓ FAQs on Gold Intraday Trading
1. Is gold bullish or bearish today?
Gold is bullish in the long term, but short-term trend is weak.
2. What is the best buy level for gold today?
A safe buy is above 4320 with proper confirmation.
3. What is the best sell level for gold today?
Selling is preferred below 4300 for intraday trades.
4. Which indicator is important in this analysis?
20 EMA and Stochastic RSI are the key indicators used.
5. Should beginners trade gold today?
Beginners should trade with strict stop loss or wait for a clear breakout.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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