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Trading Analysis - 17th February 2012

ACM Gold and Forex Trading (PTY) Ltd

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

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