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Trading Analysis - 17th February 2012

GOLD
Resistance Levels:
$ 1737.80 - $ 1747.10 - $ 1762.70

Support Levels:
$ 1712.90 - $1697.30 - $1688.00

Strategy:
Buy on Dips

(Buy above 1704 with targets @ 1737 and 1742. The downside penetration  of 1702 will call for a slide towards 1692 and 1680. But if gold doesn’t 1742 and trade below this level, then short with stop loss of 1754 and next target will be1732 and 1714.)

SILVER
Resistance Levels:
$ 33.74 - $ 34.10 - $ 34.65

Support Levels:
$ 32.82- $ 32.27  - $ 31.91

Strategy: Buy on Dips

(Buy above $32.90 targeting 33.80 & 34.05, downside breakage of 32.70 will open way  to 32.05 & 31.80. If silver doesn’t break 34.05 and trade below this level then short with stop loss of 34.55 and target 33.00  & 32.60.)

 

CRUDE OIL
Resistance Levels:
$ 103.05 - $ 103.80 - $ 104.90

Support Levels:
$ 101.20 - $ 100.10 - $ 99.35

Strategy: Buy on Dips

Friday, 17 Feb, 2012 / 4:50

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

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