Gold is bearish for medium-long term .Currently Gold is in strong uptrend and the trend is supported with good volume 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 The current position is BUY .Positionally Support for the Gold is 28753-28727-28618-.Resistance for the Gold is 29564-29655-30062-
Short term and Intraday Level of GOLD
Currently Gold is in HOLD LONG position Gold has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 29391.7 with stop at 28671.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 29391.7 with a stop at 29093.2 Below 29032.8 go for sell and put stop at 29331.1
Intraday Resistance of GOLD are 29333 : 29433.5 : 29468.9 : 29504.7
Intraday Support of GOLD are 29091 : 28990.5 : 28956.2 : 28920.8
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