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GOLD VIEW





Gold 5th April contract is trading with a negative bias after violating the rising channel.it has found support around 27320 levels but is not able to sustain 20 and 40 EMA .MACD has also given a negative crossover and presently is below the zero level indicating weakness.The RSI on the daily charts has also broken the chaannel and is currently below the 50 levels The overall scenario for gold seems to be sideways to bearish untill support levels are being violated on closing basis.Gold will face an immediate resistance at 28120 levels in short tern.
               Trader are therefore suggested to trade with a cautious view until the picture gets clear enough

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DOJI

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