Gold Technical chart | 18-Nov-2011

Below is the technical chart of Gold, using Doda-Donchian and Doda-Bollinger Bands indicator. The time frame is daily.

As indicated by our famous indicators, Gold is currently trading near very strong support zone of 1700 – 1705. If it CLOSES below this level, we can expect some correction in Gold. Till then, take / hold long positions only. 1687 is the next support level.