Looking at the Gold charts we see that rally has started from the 1480 level and is continuing, Since then the price action has made the series of higher high and higher lows suggesting us the strong uptrend. This has created a rising trend line, So we see further strengthening in short from here. This makes the short term trend to bullish and also same for the medium term. Today’s trade is supported by the technical analysis and recommends us to trade long positions for today. Studying technical indicators like RSI, Stochastic, and MACD suggest that the long positions are valid and are in favor of trade on 1 hour and also on daily charts. Trend is most likely to be bullish today.
How to trade on Gold : Gold intraday trading level analysis for 13 July 2011, we recommend to trade long on Gold above 1560 level for targets as 1569 and 1575. A protective stop loss order should be placed just below the 1555 level.
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