December 11, 2013

GOLD breakout

We might have a possible buy signal in USD GOLD as it has managed a nice close above 1250. On the flip side, broader trend is down and RSI has already hit 50 so this might limit gains. The correct thing is let GOLD form a swing high and then buy on close above this swing high.

The corresponding buy above level for INR GOLD is 31000.

USD GOLD chart

INR GOLD chart

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