GOLD TREND FOR TODAY- 31-May-2013

Gold is bearish for medium-long term .Currently Gold is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend . Caution note 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 26964-26475-26253-26244-.Resistance for the Gold is 28005-28573-

Short term and Intraday Level of GOLD

Currently Gold is in HOLD LONG position Gold is in sideways and sellers was at high so for short term better buy above 27572.4 or hold with stop at 26202.0 The next resistance will be at 27198.0 The Gold is now trading is approaching overbought level. The oscillator is showing BUY signal 
Intraday Trend- Buy is advised only above 27572.4 with a stop at 26924.4 Below 26745.1 go for sell and put stop at 27392.3
Intraday Resistance of GOLD are 27517.3 : 27815.6 : 27405.8 : 27440.2
Intraday Support of GOLD are 26798.7 : 26500.4 : 26911.4 : 26877.3

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