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Gold (Spot) Trading Analysis for 13 January 2011, Buy Above 1381

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Gold spot intraday trading for 13 January 2011, Gold intraday trading tips, Long (Buy) positions in Gold above 1381 with targets as 1388 and 1393. Stop loss should be placed around 1376 level.

Why to go Long on Gold : Gold was trading higher after rebound seen in Aussie (Australian Dollar) with respect to US dollar, yesterday gold has broken the bearish channel upper boundary on 1 hour chart due to strong demand and stronger USD. So we are now bullish for intraday.

Short term trend is consolidation however we are bullish in medium term.

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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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