Friday, 22 February 2013

GOLD TREND FOR TODAY- 23-FEB-2013


Gold is bearish for medium-long term .Currently Gold is in strong downtrend with good momentum but volume is unsatisfactory The open interest is not increasing with trend . In last few days volume based selling happened in the Gold. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing SELL signal For short term Gold is in SELL position.Positionally Immediate support for Gold is 29146.Resistance for the Gold is 30218-30403-30437-30665-30908-31070-

Short term and Intraday Level of GOLD

Currently Gold is in HOLD SHORT position The Gold is in downtrend For short term buy only if close above 29873.0 The Gold is now trading is approaching oversold level. The oscillator is on BUY Signal and Gold is recovering from oversold level
Intraday Trend- Buy is advised above 29747.3 with a stop at 29327.8 Below 29227.5 go for sell
Intraday Resistance of GOLD are 29687.9/29854.7/29918.3/30004.8
Intraday Support of GOLD are 29286.1/29119.3/29230.4/29145
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