Gold spot intraday trading for 12 January 2011, Gold intraday trading tips, Long (Buy) positions in Gold above 1376 with targets as 1384 and 1390. Stop loss should be placed around 1370 level.
Why to go Long on Gold : Gold was trading flat due to volatile moves in US dollar, but gold has broken the bearish channel upper boundary on 30 min chart due to demand. So we are now bullish for intraday.
Short term trend is consolidation and medium term trend for Gold is bullish.