Gold intraday trading analysis with pivot points and RSI

 Timeframe: 30-Minute Chart

Outlook: Bearish bias below resistance
Indicators Used: Bollinger Bands, MA20, MA50, RSI (9MA)

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🔍 Key Levels:

Level Type	Price	Description
Resistance 2	3343.00	Key upper resistance zone
Resistance 1	3328.00	Secondary resistance zone
Pivot Level	3310.00	Critical pivot/resistance level
Current Price	3288.24	As of July 9, 2025 @ 5:14 AM CET
Support 1	3274.00	Immediate support, first target
Support 2	3263.00	Extended support, bearish continuation zone

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📌 Trading Strategy Suggestion:

• Bias: 🔻 Bearish

• Short Entry Below: 3310.00

• Targets:

  • 🎯 First: 3274.00

  • 🎯 Second: 3263.00

• Stop Loss: Above 3310.00

• Confirmation:

  • Price trading below 50 MA

  • RSI near oversold but trending lower

  • Strong bearish candles with Bollinger band breakout

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🔄 Alternate Scenario (Reversal Idea):

• If price breaks above 3310.00, expect:

  • Upside towards 3328.00, then 3343.00

  • RSI momentum shift confirmation needed

  • Potential intraday bullish reversal

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📲 Conclusion:

Gold is showing signs of short-term weakness. Bears are in control below 3310. A break below 3274 could accelerate downside momentum toward 3263. Watch for price action confirmation around these key levels before placing trades.

❓ Frequently Asked Questions (FAQ)

📌 Q1: Why is the Gold price considered bearish today?

A: The price of gold is trading below the key pivot level of 3310.00, and both the 20 and 50-period moving averages are pointing downward. This, along with the RSI being near oversold levels, signals bearish momentum.

📌 Q2: What are the immediate support levels for XAUUSD?

A: The immediate support levels are:

• Support 1: 3274.00
• Support 2: 3263.00

A break below these could lead to further downside pressure.

📌 Q3: When should I consider buying Gold instead?

A: A reversal or buy scenario becomes valid only if the price breaks above 3310.00, which would then open targets toward 3328.00 and 3343.00. Also, RSI and momentum should support this move.

📌 Q4: What indicators are used in this analysis?

A: The chart uses:

• Bollinger Bands (MA 20)
• 50-period Moving Average (MA 50)
• Relative Strength Index (RSI) with 9-period Moving Average

These indicators help determine volatility, trend direction, and overbought/oversold conditions.

📌 Q5: Is this strategy suitable for beginners?

A: Yes, this is a simple price action strategy based on support/resistance, moving averages, and momentum. However, beginners should use a demo account or trade with proper risk management before going live.

📌 Q6: What is the time frame used for this analysis?

A: The analysis is based on a 30-minute chart, making it suitable for intraday trading strategies.

📌 Q7: Should I use stop loss for this trade?

A: Absolutely. For bearish setups, a stop loss above 3310.00 is recommended to limit risk in case of a reversal. Risk management is critical in volatile markets like gold.