GOLD TREND FOR TODAY- 04-Jun-2013

Gold is bearish for medium-long term .Currently Gold is in strong uptrend with good momentum 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 26841-26525-26498-26318-.Resistance for the Gold is 27895-28478-

Short term and Intraday Level of GOLD

Currently Gold is in HOLD LONG position Gold is in profit booking mode so hold with stop at 26802 The Gold is now trading is approaching overbought level. The oscillator is on SELL signal and Gold is coming down from overbought level
Intraday Trend- Buy is advised only above 27478.4 with a stop at 27002.6 Below 26880.6 go for sell and put stop at 27355.9
Intraday Resistance of GOLD are 27423.6 : 27626.6 : 27426.9 : 27461.3
Intraday Support of GOLD are 26934.4 : 26731.4 : 26932.3 : 26898.1

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