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GOLD (Spot) Short Term Resistance Seen at 1343

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Our Analysis: Short (Sell) positions below 1343 with 1329 & 1316 targets in sight. Alternative outlook: The upside breakout of 1345 will open the way to 1354 & 1364 levels.

Why to go Short: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
Trend:- Short Term; Consolidation; Medium Term: Bullish.

Gold Chart for 27 Oct 2010

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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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