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Gold (Spot) Trading Analysis for 23 December 2010, Sell below 1386

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Gold spot intraday trading for 23 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1386 with targets as 1377 and 1371. Stoploss should be placed around 1392 level.

Why to go Short: Gold is trading weak today also the price is capped by the declining trend line and facing strong resistance near 1389 levels, showing consolidation and hence should trade low to its new support near 1379 level today. We have a bearish outlook for gold today.

Short term trend for Gold will be in Consolidation phase and for medium term it is still bullish.

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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.

Comments

  1. Reddarich says

    Your Gold signal trading is very very accurate!
    How come you can make a signal like that?

    Reply

    • Bhaveek Patel says

      Thanks Reddarich for visiting our blog.!!!
      All these signals are completely based on technical analysis, which has higher accuracy.
      Thanks & keep visiting.

      Reply

  2. Reddarich says

    OK Mr Patel…
    Actually I am newbie on this Gold Trading
    My journey on Twitter made me found this Blog
    I always waiting for your higly accurate gold signal trading
    May Allah bless you and your team!

    Reply

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