Gold price prediction today: Gold is seeing selling pressure and the intraday bias is downward, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. He recommends selling on rise with resistance near ₹1,34,000:Gold February futures on MCX are trading near ₹1,34,100 after failing to sustain above recent intraday resistance levels. The price action on the 15-minute chart suggests that the recent pullback is corrective in nature, with selling pressure emerging on higher levels. Momentum indicators and open interest behavior indicate that rallies are likely to face resistance, keeping the intraday bias tilted towards the downside.Technical Setup:EMA 8 & EMA 21:Price is trading below the short-term EMA cluster, with EMA 8 unable to cross decisively above EMA 21. This reflects weak short-term momentum and confirms that upside attempts remain vulnerable near ₹1,34,000.Bollinger Bands:Gold is trading below the mid-Bollinger band, indicating loss of bullish control. The upper band near ₹1,34,600 continues to act as a strong supply zone, while the lower band opens scope for further downside extension.Pivot Points (Previous Day): • Key Resistance: ₹1,34,000 – ₹1,34,600 • Immediate Supports: ₹1,33,000 and ₹1,32,500Repeated rejection near the pivot resistance strengthens the case for a sell-on-rise approach.RSI Indicator:RSI is hovering near the 45 zone, indicating weak momentum and lack of buying strength. The indicator remains below the neutral 50 mark, supporting bearish continuation.MACD:MACD remains in negative territory with the signal line above the MACD line. Although the histogram has flattened, there is no clear bullish crossover, suggesting selling pressure is still dominant.Open Interest & Volume:Rising open interest with muted price recovery points towards fresh short buildup, reinforcing the bearish intraday outlook.Gold Intraday Trading View: • Strategy: Sell on rise • Entry Level: ₹1,34,000 • Stop-Loss: ₹1,35,100 • Downside Target: ₹1,32,500 • Bias: Bearish below ₹1,34,000; strength only above ₹1,35,100.(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)