Gold trading analysis for 28 February 2011, Gold intraday trading tips, trade long in Gold above 1401 level with targets as 1407 and 1413. Stop loss should be placed below 1397 level.
Reason to go Long on Gold : Gold is still attracting sound buyers and we are seeing a bounce from the rising channel’s lower boundary, which is acting as a support for the upward momentum. So at this time gold seems to be a good buying opportunity. RSI is rebounding and is showing bullish pattern. Trend will be slightly bullish for today’s trading.
Near term trend is now bullish and medium term trend will also remain bullish.