Gold trend 22/03/2013

Trend updated for-Mar/22/2013.CMP-29827 Overall trend of the Gold is bearish for medium-long term .Currently Gold is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . In last few days lot of positive accumulation happened in the Gold Cautious point is buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Gold is 29462-29412-29384-.Resistance for the Gold is 30096-30377-30659-

Currently Gold is in HOLD LONG position Gold is in profit booking mode so hold with stop at 29585 The Gold is now trading is approaching overbought level. The oscillator is showing BUY signal

Intraday Trend- Buy is advised only above 30112.7 with a stop at 29654.8 Below 29542.2 go for sell and put stop at 29999.7
Intraday Resistance of GOLD are 29955.8/30062.7/30108.4/30195.2
Intraday Support of GOLD are 29698.2/29591.3/29418.3/29332.6