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Trading Analysis 15th August 2012

ACM Gold and Forex Trading (PTY) Ltd

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1615.5 - $ 1629.9 - $ 1640.8

Support Levels:
$ 1590.2- $ 1579.3 - $ 1564.9

Strategy:
Sell on Strength

Short below $1609, put stop loss above $1618, target $1591-$1589 & $1585-$1583.

U.S. CPI & Empire State Manufacturing Index @ 1730, TIC Long Term Purchase @ 1800, Capacity Utilization Rate & Industrial Production @ 1815 (GMT+5) hours.

Silver:
Resistance Levels:
$ 27.95 - $ 28.16 - $ 28.35

Support Levels:
$ 27.56 - $ 27.37 - $ 27.16

Strategy:
Sell on Strength

Short below $28.00, put stop loss above $28.00, target $27.60 - $27.50 & $27.30 - $27.10. A break above $28.00 may show $28.20 - $28.40.

Crude Oil:
Resistance Levels:
$ 93.98 - $ 94.63 - $ 95.34

Support Levels:
$ 93.27 - $ 91.91 - $ 91.26

Strategy:

Neutral

Oil is likely to trade in the range of $92.20 and $ 94.20.A break below $92.20 may show $91.80 & $91.20. A break above $94.20 may show $94.70 & $95.30.

Oil inventories @ 1930(GMT+5) hours.

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0530 - $ 1.0571 - $ 1.0601

Support Levels:
$ 1.0459 - $ 1.0429 - $ 1.0388

Strategy:
Buy on Dips

Buy above $1.0450

GBPUSD :
Resistance Levels:

$ 1.5713 - $ 1.5750 - $ 1.5771

Support Levels:

$ 1.5655 - $ 1.5634 - $ 1.5597

Strategy:
Neutral

Claimant Count Change, MPC Meeting & Unemployment Rate @ 1330(GMT+5 )hours.

EURUSD :
Resistance Levels:

$ 1.2365 - $ 1.2410 - $ 1.2434

Support Levels:
$ 1.2296 - $ 1.2272 - $ 1.2227

Strategy:
Neutral

Italian and French Bank Holiday!

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