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Gold (Spot) Intraday Trading Analysis for 1 December 2010, Buy at 1381

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Our recommendation for 1 December 2010, Gold intraday trading analysis, Long (Buy) positions in Gold above 1381 with targets as 1394 and 1405. Stoploss must be placed at 1375 level.

Why to go Long: Gold has managed to break above 1377 level which is a positive breakout, Gold now seems to touch 1405 level. We are now highly bullish on gold.

Trend for the short term is Consolidation and for medium term its still bullish.

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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