Thursday, 6 February 2014

GOLD TREND FOR TODAY- 06-Feb-2014

Gold is bearish for medium-long term .Currently Gold is in 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 on SELL signal and Gold is coming down from overbought level For short term Gold is in HOLD SHORT position and closed below 3 week low with volume signals down breakout.Positionally Immediate support for Gold is 28567.Resistance for the Gold is 29319-29355-29518-29620-29628-29672-
Short term and Intraday Level of GOLD
Gold and closed below 1 week low with volume signals down breakoutCurrently Gold is in SELL position Gold is moving sideways so short term investor better to buy only above 29885.0 or hold with stop at 28682.0 The oscillator is showing BUY signal 
Intraday Trend- Buy is advised above 29323.9 with a stop at 28382.9 Below 28108.3 go for sell
Intraday Resistance of GOLD are 28932.7 : 29113.5 : 28969.7 : 29005.2
Intraday Support of GOLD are 28497.3 : 28316.5 : 28461.4 : 28426.3

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