Gold intraday trading analysis for 25 March 2011, we recommend to trade long in Gold above 1429 level with targets as 1434 and 1437. Stop loss should be placed below 1426 level.
Reason to trade long on Gold : Strong buying is supporting this yellow metal, on news such as uncertainty in Libya and bullishness in crude oil prices. So at current level gold seems to be attracting buyers, hence its a good buying opportunity. Daily technical indicators like RSI is however mixed and and results for caution in gold. Trend is likely to remain mixed with bullish bias for today’s trading.