Trading news

Trading Analysis - 21st February 2012

GOLD
Resistance Levels:
$ 1740.70 - $ 1745.80 - $ 1752.70

Support Levels:
$ 1728.70 - $1721.80 - $1716.70

Strategy: Buy on Dips

(Buy positions above 1716 with targets @ 1742 & 1754.The downside penetration of 1716 will call for a slide towards 1705, 1692 and 1680. But if Gold doesn’t 1742 and trade below this level then short with the stop loss of 1754 and next target will be 1732 and 1722.)

SILVER
Resistance Levels:
$ 33.74 - $ 33.88 - $ 34.09

Support Levels:
$ 33.39- $ 33.18 - $ 33.04

Strategy: Buy on Dips

(Buy positions above 32.90 with targets @ 33.8 & 34.05, downside breakout of 32.70 will open the way to 32.05 & 31.80. But if silver doesn’t 33.90 and trade below this level then short with the stop loss of 34.10 and next target will be 33.00 and 32.60.)

CRUDE OIL
Resistance Levels:
$ 105.81 - $ 106.35 - $ 106.91

Support Levels:
$ 104.71 - $ 104.15 - $ 103.61

Strategy: Sell on Strength

(Oil is expected to fall to $103.80 per barrel, break below this level could even trigger a further loss to $102.34. Rise above $105.44 will extend to $106.44.)

Tuesday, 21 Feb, 2012 / 4:54