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Trading Analysis - 20th March 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1674.20 - $ 1681.00 - $ 1692.00

Support Levels:
$ 1656.40 - $1645.40 - $1638.60

Strategy:
Buy on Dips

(Long above 1652, first target at 1674 and then 1691. Downward penetration of 1652 could see 1639 & 1624).

 

Note of Caution: Bernanke speech at 9.45 pm, advisable to put stop loss and profit taking. U.S. House permits at 5.30 GMT+5 hours

 

Silver:
Resistance Levels:
$ 32.79 - $ 33.55 - $ 34.01

Support Levels:
$ 32.49- $ 32.03 - $ 31.73

Strategy:
Buy on Dips

(Long above 32.10, first target 33.07 & 33.05. A break below 32.10 could show 31.60).

 

 

Note of Caution: Bernanke speech at 9.45 pm, advisable to put stop loss and profit taking. U.S. House permits at 5.30 GMT+5 hours

 

Crude Oil:
Resistance Levels:
$ 109.16 - $ 109.76 - $ 110.82

Support Levels:
$ 107.50 - $ 106.44 - $ 105.84


Strategy:
Buy on Dips

(Long above 106.50, first target 108.20, then 109.00. Downward penetration of 106.50, could lead to 105.30 & 104.30)

 

Note of Caution: Bernanke speech at 9.45 pm, advisable to put stop loss and profit taking. U.S. House permits at 5.30 GMT+5 hours

Tuesday, 20 Mar, 2012 / 6:02

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

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