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Gold (Spot) Trading Analysis for 9 June 2011, Buy above 1532

By Bhaveek Patel Leave a Comment

Gold intraday trading analysis for 9 June 2011, we recommend to trade long in Gold above 1532 level for targets as 1538 and 1546. Stop loss must be placed below 1529 level.

Reason to trade long on Gold : Gold has resumed its long term up trend after trading above the 1526 support zone. we believe it is ready for the up move. So we see that gold will continue its long term trend as the technical indicators are in favor of trade on daily chart. Trading with the trend we will be looking for only buying opportunity as long as gold remains above the 1527 level for intraday trading. Trend is likely to be bullish for today’s trading session.

Near term trend is now consolidation and medium term trend will still remain bullish.

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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.

Comments

  1. Dana says

    It seems Gold is always in uptrend. So, surely a good long term investing term.

    Reply
    • Bhaveek Patel says

      That is the reason the gold is treated as safe heaven asset class.

      Reply

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