Gold CMP : $1860/Ounce
The trend of gold is tremendous, since july 2011 gold has gained nearly $400/ounce and the raise in gold due to poor global macro economic conditions.Gold is resisting to close above $1900 levels on EOD basis. As bulls could not manage to hold the $1900 level yet again – this time forming a bearish double top pattern in the process. Gold EMA charts are shown along with 5EMA High-Low Buy or Sell indicator. There is a recent sell signal on 7th September 2011 warning medium term trend reversal.
ACTION ITEMS:
Bullish:
Investors who believe that gold still has room to the upside might want to consider the following trades:
Manage your risk. There is no doubt that gold has rewarded investors will great returns, however, no one ever went broke taking a profit. Taking a bit off of the table at current levels to lock in gains is a prudent idea. Should gold break above $1876(i.e Breaking above 5EMA) again on EOD basis, that would be a great time to reenter, as a push to $2000 would appear likely.
Bearish:
Investors who believe that today’s action is a precursor to a large downside move in gold prices may consider these alternate positions:
At such high levels, the risk has transferred squarely to the bulls. Getting short a large position here with a minimum target price of $1700 leves with $1900 as EOD stop loss and a stop out above the all time high of $1923.70 provides for a fantastic risk/reward ratio.
hi raj,
from where can i get free eod data for ami for gold and silver , tx in adv.
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sir how to add 5EMA HIGH -LOW in META-4 PLATFORM . Can you help please.