Mtechtips GOLD MCX  intraday trading analysis 31-12-2012

 Mcx gold short term traders can take contra long positions with stoploss below 30400 and expect 31000 to 31300 in short time.if slips below 30400 then resume long term correction and heads towards 12 month and 24 month support levels. medium to long term investors must exit from longs and hold shorts with trailing stoploss of 30900 target of 29800 and below.fresh shorts positions with medium term view is suggested in between 31000 to 31300 with weekly closing basis stoploss above 31600 and expect 29800 and then 27500. for gold rupee is only support factor if that continues it uptrend then domestic gold prices weakness will deepens with time.





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