Gold spot intraday trading for 22 February 2011, Gold intraday trading tips, Add Long (Buy) positions in Gold above 1395 with targets as 1401 and 1407. Stop loss should be placed below 1392 level.
Why to go Long on Gold : A strong breakout above 1383 level is a positive sign for the uptrend, also gold is supported by the rising trend line. However, RSI is well directed and is supporting the upside from current levels. Trend is likely to be bullish for today’s trading.
Short term trend is now bullish and for medium term also we remain bullish.