Trading news

Trading Analysis - 16th May 2012

TECHNICAL's IN FOCUS
Gold:

Resistance Levels: 
$ 1567.30 - $1577.40 - $1590.50

Support Levels:
$ 1544.10 - $1531.00 - $1520.90

Strategy:
Buy on Dips
Long above 1530, target 1544, 1567. Downside penetration of 1530 may call for 1520.

Building Permits & Housing Starts @ 1730, Capacity Utilization Rate & Industrial Production @ 1815 (GMT+5) hours.

Silver:
Resistance Levels:
$ 28.49 - $ 28.89 - $ 29.95

Support Levels:
$ 27.62 - $ 27.16 - $ 26.76

Strategy:
Buy on Dips
Long above 26.60, target 27.40.

Crude Oil:
Resistance Levels:
$ 95.30 - $ 96.62 - $ 97.76

Support Levels:
$ 92.84 - $ 91.70 - $ 90.38

Strategy:
Buy on Dips
Long above 91.70, target 93.70. Downside penetration of 91.70 may call for 91.35 & 90.38.

Crude Oil Inventories @ 1930 (GMT+5) hours.

CURRENCIES: 

AUDUSD :
Resistance Levels:
$ 0.9996 - $ 1.0052 - $ 1.0090

Support Levels:
$ 0.9902 - $ 0.9864 - $ 0.9808

Strategy:
Sell on Strength

GBPUSD :
Resistance Levels:
$ 1.6069 - $ 1.6155 - $ 1.6199

Support Levels:
$ 1.5939 - $ 1.5895 - $ 1.5809

Strategy:
Sell on Strength

Claimant Count Change & Unemployment Rate @ 1330, BOE King Speaks & Inflation Rate @ 1430 (GMT+5) hours.

EURUSD :
Resistance Levels:
$ 1.3027 - $ 1.3320 - $ 1.3774

Support Levels:
$ 1.2280 - $ 1.1826 - $ 1.1533

Strategy:
Sell on Strength

CPI @ 1400 followed by ECB President Speak @ 1900(GMT+5) hours.

Wednesday, 16 May, 2012 / 4:46

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

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