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Gold (Spot) Trading Tips for 9 December 2010, Sell below 1399

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Gold trading for 9 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1399 with targets as 1389 and 1386. Stoploss should be placed around 1405 level.

Why to go Short: Gold is trading weak for last 2 sessions, we expect a pullback to its support near 1386 level. It has also broken below its bullish channel lower boundary on 30 minutes chart. We are now bearish for intraday trading.

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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.

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