𝗚𝗼𝗹𝗱 𝗣𝗿𝗶𝗰𝗲 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻 𝗦𝗶𝗴𝗻𝗮𝗹𝘀 𝗕𝗲𝗮𝗿𝗶𝘀𝗵 𝗧𝗿𝗲𝗻𝗱 𝗙𝗼𝗿 𝗝𝘂𝗻𝗲 𝟱 𝟮𝟬𝟮𝟲

𝗚𝗼𝗹𝗱 𝗣𝗿𝗶𝗰𝗲 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻 𝗦𝗶𝗴𝗻𝗮𝗹𝘀 𝗕𝗲𝗮𝗿𝗶𝘀𝗵 𝗧𝗿𝗲𝗻𝗱 𝗙𝗼𝗿 𝗝𝘂𝗻𝗲 𝟱 𝟮𝟬𝟮𝟲

Gold August futures on MCX trade near ₹1,58,000 after a sharp breakdown from the recent consolidation range. Jateen Trivedi of LKP Securities recommends a sell on rise strategy.

Technical indicators show weak momentum:

• The 8 EMA slipped below the 21 EMA. Prices now trade below both moving averages.
• Gold trades near the lower Bollinger Band. Pullbacks toward the middle band face selling pressure.
• The chart shows lower highs and lower lows. This confirms the downtrend continues.
• The recent breakdown below the ₹1,58,600 support zone strengthened the bearish setup.
• RSI sits near 30 in oversold territory. Minor pullbacks remain possible but momentum stays weak.
• MACD remains in negative territory with widening histogram bars. This indicates strengthening bearish momentum.

Intraday trading levels:

• Strategy: Sell on rise
• Sell zone: ₹1,58,300 to ₹1,58,500
• Stop loss: Above ₹1,59,100
• Target: ₹1,57,500
• Bias stays bearish below ₹1,58,500. A reversal needs a move above ₹1,59,100.

Gold's intraday technical structure stays weak after the breakdown below key support levels. The bearish EMA crossover and negative MACD setup suggest rallies will attract fresh selling pressure during the session.