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Trading Analysis 24th July 2012

ACM Gold and Forex Trading (PTY) Ltd

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1584.8 - $ 1593.8 - $ 1605.2

Support Levels:
$ 1564.4- $ 1553.0 - $ 1544.0

Strategy:
Sell on Strength

Short below $1582-84, targeting $1567 and $1561, put stop loss at $1594. A break above $1594 may call for $1601 and $1611.

Silver:
Resistance Levels:
$ 27.3 - $ 27.6 - $ 28.9

Support Levels:
$ 26.6 - $ 26.2 - $ 25.9

Strategy:
Sell on Strength

Sell below $27.25-35, targeting $26.80 and $26.50. A break above $27.50 will call for $27.90 and 28.20.

Crude Oil:
Resistance Levels:
$ 90.5 - $ 92.9 - $ 94.2

Support Levels:
$ 86.7 - $ 85.5 - $ 83.0

Strategy:

Buy on Dips

Long above $87.40, targeting $88.90 and $89.90. A fall below $87.40 may show a downtrend.

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0334 - $ 1.0411 - $ 1.0456

Support Levels:
$ 1.0212 - $ 1.0167 - $ 1.0090

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:

$ 1.5591- $ 1.5677 - $ 1.5730

Support Levels:

$ 1.5452 - $ 1.5399 - $ 1.5313

Strategy:
Sell on Strength

EURUSD :
Resistance Levels:

$ 1.2151 - $ 1.2186 - $ 1.2228

Support Levels:
$ 1.2074 - $ 1.2032 - $ 1.1997

Strategy:
Sell on Strength

Source: https://www.acmgold.com/news-analysis
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