Gold spot intraday trading for 5 January 2011, Gold intraday trading tips, Short (Sell) positions in Gold above 1390 with targets as 1382 and 1376. Stop loss should be placed around 1398 level.
Why to go Short on Gold : Gold was trading higher but yesterday it broke the support level of 1400 and developed a bearish outlook for intraday.
Short term trend is consolidation and medium term trend for Gold is still bullish.
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