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Market Insight - 3rd February 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1766.00 - $ 1776.50 - $ 1790.00

Support Levels:
$ 1740.00 - $1726.00 - $1713.50

Strategy:
Buy on Dips

(Buy positions above 1740 with 1765 & 1790 in sight. The downside penetration of 1740 will call for 1726 & 1713)

Silver:
Resistance Levels:
$ 34.55 - $ 34.96 - $ 35.55

Support Levels:
$ 33.45 - $ 32.95  - $ 32.60

Strategy:
Buy on Dips

(Buy positions above 33.05 with 34.5 & 34.9 in sight. The downside breakout of 33.05 will open the way to 32.6 & 31.8. Break above 34.20 calls for further gains.)

Crude Oil:
Resistance Levels:
$ 99.75 - $ 98.50 - $ 99.45

Support Levels:
$ 95.45 - $ 94.05 - $ 92.65

Strategy:
Sell on Strength

(Sell positions below 97.80 with 95.45 & 93.9 as next targets. The upside penetration of 97.80 will call for 98.5 & 99.45. A break below 95.45 would trigger a drop towards 93.9.)

Friday, 03 Feb, 2012 / 5:22

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

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