gold price prediction Today: Jatin Trivedi, VP Research Analyst – Commodity & Currency, LKP Securities, says intraday weakness is being seen in gold prices and the strategy of selling on rise makes sense.After seeing continuous selling pressure throughout the session, gold April futures on MCX are trading near ₹1,59,860. The price structure shows a clear downside bias with consecutive lower highs and lower lows forming on the intraday charts. Momentum indicators remain weak, suggesting that any short-term correction towards the resistance level could attract fresh selling interest.technical setupThe price is trading below the short-term EMA cluster, with the 8 EMA moving below the 21 EMA. Both moving averages are trending downwards, confirming the continuation of the bearish intraday trend. The ₹1,60,300 level aligns with the immediate moving average resistance zone.After a long fall, gold is trading near the lower Bollinger Band, indicating a strong fall. A pullback toward the mid-band could provide a selling opportunity before the trend resumes.The chart shows a persistent low-high pattern, confirming supply dominance. Broad intraday sentiment will remain negative until prices reach ₹1,61,000.RSI Indicator:The RSI is hovering near 23, entering the oversold zone. While this may result in a minor bounce, it does not invalidate the current bearish trend.MACD remains in negative territory with the red histogram bars expanding, indicating continued bearish momentum.gold intraday trading scene
- Strategy: Sell on the Rise
- Sales Level: ₹1,60,300
- Stop-loss: above ₹1,61,000
- Target: ₹1,59,000
Bias: Bearish below ₹1,60,300; Trend reversal only above ₹1,61,000.Gold’s intraday structure remains weak, reflecting strong downside momentum through declining moving averages and sub-30 RSI readings. Any decline towards ₹1,60,300 may face selling pressure. Traders may consider selling on a rise near ₹1,60,300 with a stop-loss above ₹1,61,000 for a target of ₹1,59,000 during the session.(Disclaimer: The recommendations and views given by experts on the stock market, other asset classes or personal finance management are their own. These opinions do not represent the views of The Times of India)