GOLD TREND FOR TODAY- 16-July-2013

Gold is bearish for medium-long term .Currently Gold is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is 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 Support for the Gold is 26164-26038-.Resistance for the Gold is 26571-26825-26844-27378-

Short term and Intraday Level of GOLD

Currently Gold is in HOLD LONG position In short term Gold is in strong up trend so hold with stop at 26491 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 26785.5 with a stop at 26238.4 Below 26091.7 go for sell with stop at 26638.2
Intraday Resistance of GOLD are 26732 : 26976 : 26682.5 : 26716.4
Intraday Support of GOLD are 26144 : 25900 : 26194.7 : 26161

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