Gold intraday trading analysis for 14 March 2011, we recommend to trade long in Gold above 1426 level with targets as 1435 and 1439. Stop loss should be placed below 1422 level.
Reason to trade long on Gold : Strong buying by gold ETF is supporting this yellow metal. So at current level gold seems to be attractive, hence its a good buying opportunity. Daily technical indicators like RSI is shows bullish outlook. Trend is likely to remain bullish for today’s trading.
Near term trend is now consolidation and medium term trend will also remain bullish.