Gold prices ended higher over renewed concerns of Europe’s indebtedness and that the EU loan fund may not be enough to stem the contagion, Strong buying in the aftermarket took Gold to new all time highs. Now technically market is trading in the range as RSI for 18days is currently indicating 69.72, where as 50DMA is at 16820 and gold is trading above the same and getting support at 17685 and below could see a test of 17472 level, And resistance is now likely to be seen at 18075, a move above could see prices testing 18252.

Trading Ideas:

Gold trading range is 17373-18153.

Gold ended higher amid doubts over EU bailout

Support for the gold is seen at 17850 and resistance is at 17940.

In spot gold is having support at 1218$ and resistance is at 1244$.

BUY GOLD JUNE ABV 17900 SL 17860 TGT 17945-17998-18035.MCX