Thursday, 16 January 2014

GOLD TREND FOR TODAY- 17-Jan-2014

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 Gold is in HOLD LONG position.Positionally Support for the Gold is 28886-28735-28688-.Resistance for the Gold is 29516-29615-29936-
Short term and Intraday Level of GOLD
Currently Gold is in HOLD LONG position Gold is in profit booking mode so either sell of or keep stop at28950 so better sell and enter at lower level The Gold is now trading in highly oversold level. The oscillator is showing BUY signal 
Intraday Trend- Buy is advised above 29195.3 with a stop at 28924.5 Below 28873.1 go for sell
Intraday Resistance of GOLD are 29137 : 29222.5 : 29290.2 : 29325.8
Intraday Support of GOLD are 28931 : 28845.5 : 28779 : 28743.7

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