Gold Trades Muted Despite Bearish Market Sentiment
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Trading news
Trading Analysis 16th July 2012
TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1603.8 - $ 1615.6 - $ 1634.7
Support Levels:
$ 1572.9 - $ 1553.8 - $ 1542.0
Strategy:
Sell on Strength
Sell below $1600 targeting $1576. A break above $1600 will call for $1612.
Core Retail Sales @ 1730, Retail Sales @ 1730, Empire State Manufacturing Index @ 1730, Business Inventories @ 1900 (GMT + 5)
Silver:
Resistance Levels:
$ 27.593 - $ 27.816 - $ 28.030
Support Levels:
$ 27.103 - $ 26.836 - $ 26.613
Strategy:
Sell on Strength
Sell below $27.77 targeting $26.20. A break above $27.77 will call for $28.87.
Crude Oil:
Resistance Levels:
$ 87.95 - $ 88.79 - $ 89.98
Support Levels:
$ 85.92 - $ 84.73 - $ 83.89
Strategy:
Sell on Strength
Sell below $87.77 targeting $84.36. A break above $87.77 will call for $89.91.
CURRENCIES:
AUDUSD :
Resistance Levels:
$ 1.0263 - $ 1.0300 - $ 1.0370
Support Levels:
$ 1.0156 - $ 1.0086 - $ 1.0049
Strategy:
Sell on Strength
GBPUSD :
Resistance Levels:
$ 1.5634- $ 1.5690 - $ 1.5801
Support Levels:
$ 1.5467 - $ 1.5356 - $ 1.5300
Strategy:
Sell on Strength
EURUSD :
Resistance Levels:
$ 1.2278 - $ 1.2309 - $ 1.2368
Support Levels:
$ 1.2188 - $ 1.2129 - $ 1.2098
Strategy:
Sell on Strength
CPI @ 1400, Core CPI @ 1400 (GMT + 5)
Monday, 16 Jul, 2012 / 4:32
Source : http://www.acmgold.com/news-analysis
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