Commodity Outlook for Gold by KediaCommodity

GoldGold prices ended a tad higher after fluctuating in a narrow range for most of the session, caught between safe-haven buying amid the on-going euro debt debacle and profit taking at higher levels. Now technically market is trading in the range as RSI for 18days is currently indicating 71.01, where as 50DMA is at 16966 and gold is trading above the same and getting support at 18133 and below could see a test of 18005 level, And resistance is now likely to be seen at 18406, a move above could see prices testing 18551.

Gold trading range is 18005-18551.

Gold prices ended higher as safe-haven buying supported the prices.

Support for the gold is seen at 18210 and resistance is at 18315.

In spot gold is having support at 1210$ and resistance at 1228$.

GOLD A BREAK BELOW 18200 LOOK WEAK TILL 18080. WAIT FOR ENTRY.