Wednesday, 10 April 2013

GOLD TREND FOR TODAY- 11-April-2013

23:23   , , , , ,   4 comments




Gold is bearish for medium-long term .Currently Gold is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend . Caution note buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term Gold is in HOLD LONG position.Positionally Immediate support for Gold is 28605.Resistance for the Gold is 29495-29559-29609-29783-30078-30322-

Short term and Intraday Level of GOLD

Gold and closed below 1 week low with volume signals down breakoutCurrently Gold is in HOLD LONG position Gold has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below28875.5 Buy if above 29816.0 The Gold is now trading is approaching overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level
Intraday Trend- Buy is advised above 29585.7 with a stop at 29023.5 Below 28875.5 go for sell
Intraday Resistance of GOLD are 29378.3/29526.7/29772.9/29722.5/29808.7
Intraday Support of GOLD are 29081.7/28933.3/28687.1/29036.9/28951.7
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