GOLD TREND FOR TODAY- 13-April-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 BUY signal For short term Gold is in SELL position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Gold is 27988.Resistance for the Gold is 29343-29431-29546-29705-30022-30269-

Short term and Intraday Level of GOLD

Gold and closed below 1 week low with volume signals down breakoutCurrently Gold is in HOLD SHORT position The Gold is in downtrend For short term buy only if close above 29414.0 The oscillator is showing SELL signal
Intraday Trend- Sell if open below 27814.9 with stop loss at 28546.3 or sell below 27506.2 Buy only above 28856.3
Intraday Resistance of GOLD are 28489.3/28798.7/29312.2/28841.7/28926.6
Intraday Support of GOLD are 27870.7/27561.3/27047.8/28166.3/28082.5

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