GOLD TREND FOR TODAY- 07-Aug-2013

Gold is in long- medium- short-medium- term bull phase .Currently Gold is moving sideways The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level and has moved down its previous low with good volume points to a negative break out . The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level For short term Gold is in HOLD LONG position and Gold closed below 1 week low with volume signals down breakout.Positionally Support for the Gold is 27175-26941-26829-26789-.Resistance for the Gold is 27935-28200-

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 Gold has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below27338 Buy if above 28739.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 27890.9 with a stop at 27448.4 Below 27338 go for sell
Intraday Resistance of GOLD are 27835.2 : 28018.8 : 27863.8 : 27898.6
Intraday Support of GOLD are 27392.8 : 27209.2 : 27365.3 : 27330.9

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