Thursday 2 January 2014

GOLD TREND FOR TODAY- 03-Jan-2014

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 .. The Gold is now trading in oversold level. The Gold is now trading in oversold level. The oscillator is showing BUY signal For short term Gold is in HOLD SHORT position and closed above 1 week high with volume signals up breakout.Positionally Support for the Gold is 28557-28390-.Resistance for the Gold is 29241-29732-29764-30287-

Short term and Intraday Level of GOLD

Gold closed above 1 week high with volume signals up breakoutCurrently Gold is in HOLD LONG position Gold is in sideways and sellers was at high so for short term better buy above 29348 or hold with stop at 28075.0 The next resistance will be at 28995.0 The Gold is now trading in highly oversold level. The oscillator is showing BUY signal 
Intraday Trend- Buy is advised only above 29348 with a stop at 28749.7 Below 28589.3 go for sell and put stop at 29187
Intraday Resistance of GOLD are 29248.6 : 29481.5 : 29223.9 : 29259.4
Intraday Support of GOLD are 28687.4 : 28454.5 : 28713.3 : 28678

 

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