Gold price prediction today: Gold prices are showing signs of exhaustion, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. He recommends selling if the gold prices slip below Rs 1,32,300:Gold futures on MCX witnessed a sharp rally overnight, touching highs near ₹1,32,610 before encountering resistance and slipping lower in early trade. The momentum indicators now suggest overbought conditions, and prices are showing signs of exhaustion near the upper band. This keeps the intraday bias vulnerable to a corrective move if support levels fail to hold. A sell signal activates below ₹1,32,300, with defined risk and clear downside potential.Technical Setup:The price has extended significantly above both short-term moving averages, indicating a stretched rally. EMA 8 is steep but beginning to flatten, a common early sign of momentum cooling. A break below ₹1,32,300 would shift prices back toward the EMA cluster, reinforcing bearish pressure.Bollinger Bands:Gold is trading at the upper Bollinger band after a vertical rise. This suggests price overextension, and a move below the mid-band could accelerate selling toward the lower volatility zone.RSI is at 72.7, firmly in the overbought territory. This level often precedes corrective pullbacks, especially when combined with slowing price momentum.MACD remains positive, but histogram bars are shrinking, indicating weakening bullish strength. A downward crossover in the next few sessions is possible if price slips below key support.Pivot Points (Previous Day):
- Sell Trigger Zone: Below ₹1,32,300
- Immediate Supports: ₹1,31,875 – ₹1,31,470
- Resistance: ₹1,32,750 (stop-loss reference)
Failure to hold ₹1,32,300 will expose the lower pivot levels, increasing the probability of a corrective slide.Intraday Trading View:
- Strategy: Sell below ₹1,32,300
- Trigger: Breakdown below ₹1,32,300
- Stop-Loss: ₹1,32,750
Targets:
- First Target: ₹1,31,875
- Final Target: ₹1,31,700
- Bias: Bearish below ₹1,32,300; strength only resumes above ₹1,32,750.
Conclusion:Gold’s intraday technical structure points toward a possible pullback from overbought levels. Bears may regain control if the price slips below ₹1,32,300, opening room toward ₹1,31,700. Traders should maintain strict risk parameters with a stop-loss at ₹1,32,750.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)