Monday, 15 April 2013

GOLD TREND FOR TODAY- 16-April-2013


Gold is bearish for medium-long term .Currently Gold is in strong downtrend and the trend is supported with good volume 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 and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Gold is 25348.Resistance for the Gold is 28899-29058-29338-29556-29914-30180-
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 28211.0 The Gold is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Sell if open below 24903 with stop loss at 26367.8 or sell below 24223.2 Buy only above 27050.2
Intraday Resistance of GOLD are 26184.4/26734.8/27648.5/26502.6/26584.1
Intraday Support of GOLD are 25083.6/24533.2/23619.5/25855.4/25775.1

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