Gold Technical Chart | 06-Oct-2011

Here is a technical chart of Gold with Doda-Donchian and Doda-Bbands indicators.

Few hours back, both the indicators gave buy signal @1639.40.But if you’ve not taken any call here, do not buy Gold at these levels as it is trading near high resistance area. One should buy Gold ONLY if it closes above 1639 on H4 time frame. Make your stop loss @1602.

The major resistance areas are 1674 and 1690 and major support areas are 1614 and 1533. Watch all these levels carefully.