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Gold (Spot) Trading Analysis for 7 January 2011, Sell Below 1378

By Bhaveek Patel Leave a Comment

Gold spot intraday trading for 7 January 2011, Gold intraday trading tips, Short (Sell) positions in Gold below 1378 with targets as 1365 and 1356. Stop loss should be placed around 1384 level. Also trade cautiously as NFP data will be released shortly, this may increase market volatility.

Why to go Short on Gold : Gold was trading lower due to weak US dollar 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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  1. Gold (Spot) Trading Analysis for 12 January 2011, Buy Above 1376 Gold spot intraday trading for 12 January 2011, Gold intraday trading tips, Long (Buy) positions in Gold above 1376 with targets as 1384 and 1390. Stop loss should be placed around 1370 level. Why to...
  2. Gold (Spot) Trading Analysis for 5 January 2011, Sell Below 1390 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...
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Category: Gold Tags: gold/ Gold Analysis/ Gold Trading

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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