Monday 20 May 2013

GOLD TREND FOR TODAY- 21-May-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 . 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 SELL position.Positionally Immediate support for Gold is 25272.Resistance for the Gold is 26588-26741-26796-27679-28352-28887-
Short term and Intraday Level of GOLD
Currently Gold is in SELL position The Gold is in downtrend For short term buy only if close above 26112.0 The Gold is now trading is approaching oversold level. The oscillator is on BUY Signal and Gold is recovering from oversold level
Intraday Trend- Buy is advised only above 26684 with a stop at 25765 Below 25494.2 go for sell and put stop at 26412.1
Intraday Resistance of GOLD are 26359.4 : 26630.7 : 27081.2 : 26175.5 : 26209.1
Intraday Support of GOLD are 25816.6 : 25545.3 : 25094.8 : 25692.3 : 25659

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