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Trading Analysis - 16th March 2012
TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1672.50 - $ 1685.60 - $ 1703.70
Support Levels:
$ 1641.30 - $1623.20 - $1610.10
Strategy:
Buy on Dips
(Long positions around $1631 and target $1680. If market breaks $1680, it may show $1631)
Major release: US CPI and Consumer Sentiment after US market opens)
Silver:
Resistance Levels:
$ 34.07 - $ 33.49 - $ 33.11
Support Levels:
$ 32.14- $ 31.56 - $ 31.18
Strategy:
Buy on Dips
(Long position at $31.93 and target $33.50. A downward penetration of 33.50 could see $30.80).
Crude Oil:
Resistance Levels:
$ 106.27 - $ 107.42 - $ 108.67
Support Levels:
$ 103.87 - $ 102.62 - $ 101.47
Strategy:
Sell on Strength
(Short at $106.6 and target $104.5 and put stop loss at $107.48)
Friday, 16 Mar, 2012 / 5:44
Source : http://www.acmgold.com/news-analysis
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