Trading news

Market Insight - 7th February 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1739.20 - $ 1753.50 - $ 1766.10

Support Levels:
$ 1712.30 - $1699.70 - $1685.40

Strategy:
Sell on Strength

(Sell gold bellow $ 1728, target profit at $1713 & $1703. Upward breach $1728 will call for uptick towards $1742 & $1766. A good buying level is $1702 with a minimum stop loss at $1694 and immediate profit taking at $1714)

Silver:
Resistance Levels:
$ 34.09 - $ 34.42 - $ 34.97

Support Levels:
$ 33.20- $ 32.65  - $ 32.32

Strategy:
Sell on Strength

(Short position below $33.85 with 33.20 and 32.60 in sight. The upside breach of 34.05 will call for 34.60 and 35.30)

Crude Oil:
Resistance Levels:
$ 97.65 - $ 98.38 - $ 99.02

Support Levels:
$ 96.28 - $ 95.64 - $ 94.91

Strategy:
Buy on Dips

(Buy positions above 96.40, with target of $97.98 and $98.53, breaking below 96.35 will call for $94.90 and $94.50)

Tuesday, 07 Feb, 2012 / 10:03

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

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