Gold sell below 12845
10 July 2008 11:26:05
Gold opened at its low of 918.00/919.00 in New York. The metal steadily rose in the morning session, on the back of a declining USD. It peaked at 928.75/929.75 and then descended as oil lost its earlier gains, reaching support around 921.00. Now support for the gold MCX is seen at 12836 and below could see a test of 12730. Resistance is now likely to be seen at 13011, a move above could see prices testing 13080.
Trading Ideas:
• TRADING RANGE IS 12730-13080.
• SELL GOLD BELOW 12845 SL 12923 TGT 12816-786-745-710. MCX
• BUY GOLD @ 12880-900 SL 12845 TGT 12945-980-13020-13086.MCX
• EVE DATA AND CRUDE MOVE IS IMPORTANT
MCXARUN
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