TREND DECIDERS:
DOW JONES (END OF THE SESSION WILL BE IN GREEN):
DOW JONES Opened upmore than 1% on Monday, supported by European and Asian equities that ralliedpartly on a possible merger between two big banks in Greece.
REASONS FOR CORRECTION IN GOLD PRICE:
· European and Asian equities that rallied partly ona possible merger between two big banks in Greece. EFG Euro bank and Alpha Bankwill unveil a merger deal, sources told Reuters, with Qatar, the second biggestshareholder in Alpha Bank, set to add more capital to the combination.
· Hurricane Irene caused less damage than feared inNew York City over the weekend
INTRADAY LEVELS:
DOW JONES:
2nd Resistance Point- BULL RALLY- 11,599.70
1st Resistance Point-SELL-INTRADAY- 11,528.97
Last Price -INFORMATION UPDATED- 11,445.59
1st Support Level- BUY-INTRADAY- 11,337.04
2nd Support Level-BEAR-RALLY- 11,215.84
GOLD:
2nd Resistance Point-BULL RALLY- 1,862.55
1st Resistance Point-SELL INTRADAY- 1,827.87
Last Price-INFORMATION UPDATED- 1,800.39
1st Support Level-BUY INTRA DAY 1,768.77
2nd Support Level-BEAR RALLY- 1,744.35
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