Gold price prediction: What’s the outlook for today & should you sell on rise?

The broader intraday structure remains weak following the sharp sell-off, and rallies toward resistance are likely to attract fresh selling pressure. (AI image)

Gold price prediction today: Gold prices are struggling to retain higher levels and a sell on rise intra-day strategy is recommended by Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Gold futures on MCX are trading near ₹1,54,350 after witnessing a sharp breakdown from higher levels. The recent recovery attempt appears corrective in nature, with price struggling to sustain above short-term resistance. The broader intraday structure remains weak following the sharp sell-off, and rallies toward resistance are likely to attract fresh selling pressure.Gold Technical Setup:EMA 8 & EMA 21:Price is trading below both the 8 EMA and 21 EMA, confirming a bearish short-term structure. The moving averages are sloping downward, indicating sustained selling momentum. The ₹1,54,500 zone coincides with the EMA resistance cluster, making it a strong supply area.Bollinger Bands:Gold has bounced from the lower Bollinger band but remains below the mid-band. This suggests that the current move is a pullback within a broader bearish phase rather than a reversal.Price Structure:The chart shows a clear breakdown followed by a lower high formation. Until price reclaims ₹1,56,500 decisively, the intraday bias remains negative.RSI Indicator:RSI is hovering near 42, reflecting weak momentum and staying below the neutral 50 mark. This supports continuation of downside pressure.MACD:MACD remains in negative territory despite minor flattening. The absence of a bullish crossover indicates that selling pressure has not fully exhausted.Intraday Trading View:

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