Gold spot trading analysis for 10 January 2011, Gold intraday trading tips, Long (Buy) positions in Gold above 1360 with targets as 1371 and 1378. Stop loss should be placed around 1355 level.
Why to go Long on Gold : Gold was trading lower due to weak US dollar but broken the bearish channel upper boundary on 30 minutes chart. So we are now bullish for intraday.
Short term trend is consolidation and medium term trend for Gold is bullish.