GOLD TREND FOR TODAY- 17-Dec-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 .. 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 Gold closed below 1 week low with volume signals down breakout.Positionally Immediate support for Gold is 28651.Resistance for the Gold is 29626-29829-29937-30020-30107-30357-

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 below28409.3 Buy if above 29639.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 29254.2 with a stop at 28591.3 Below 28409.3 go for sell
Intraday Resistance of GOLD are 29162.3 : 29437.4 : 29086.3 : 29121.7
Intraday Support of GOLD are 28499.7 : 28224.6 : 28576.9 : 28541.7

 

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