Gold trading for 9 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1399 with targets as 1389 and 1386. Stoploss should be placed around 1405 level.
Why to go Short: Gold is trading weak for last 2 sessions, we expect a pullback to its support near 1386 level. It has also broken below its bullish channel lower boundary on 30 minutes chart. We are now bearish for intraday trading.