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 HOLD SHORT position.Positionally Immediate support for Gold is 28208.Resistance for the Gold is 28998-29739-29740-29846-30067-30843-
Short term and Intraday Level of GOLD
Currently Gold is in SELL position Gold has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below28015.5 Buy if above 29750.0 The Gold is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 28715.7 with a stop at 28161.9 Below 28015.5 go for sell
Intraday Resistance of GOLD are 28623.9 : 28838.7 : 28618.2 : 28653.4
Intraday Support of GOLD are 28106.1 : 27891.3 : 28112.9 : 28078.1
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