Mtechtips GOLD MCX  intraday trading analysis 17-12-2012

Gold feb future for short term view remain sell.those having short positions can keep stoploss above 31550 on closing basis and expect 31000 to 30500 in next 1-2 weeks.but if rupee tumbles and comex gold take support at 1680-1700 band then only long side reversal is possible. medium to long term traders must watch 6 month level level if closed below that and hold below that for 3 session then 29500 is likely and sure downside target which is 12 month level support.if give reversal from support then expect 32200+ new high till expiry??





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