Trading news

Trading Analysis - 21st March 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1660.90 - $ 1674.70 - $ 1684.60

Support Levels:
$ 1637.20 - $1627.30 - $1613.50

Strategy:
Sell on Strength

(Short around 1666, take profit 1642 and put stop loss around 1672)

Note of Caution: Bernanke testifies at 6.30 pm, advisable to put stop loss and profit taking. U.S. existing home sales at 7, crude oil at 7.30 GMT+5 hours)

Silver:
Resistance Levels:
$ 32.61 - $ 33.39 - $ 33.82

Support Levels:
$ 31.40- $ 30.97 - $ 30.19

Strategy:
Sell on Strength

(Short at 32.50, take profit at 31.50 and put stop loss at 33.10)

Note of Caution: Bernanke testifies at 6.30 pm, advisable to put stop loss and profit taking. U.S. existing home sales at 7, crude oil at 7.30 GMT+5hours

Crude Oil:
Resistance Levels:
$ 107.73 - $ 109.38 - $ 110.40

Support Levels:
$ 105.06 - $ 104.04 - $ 102.39

Strategy:
Buy on Dips

(Long at 106.0, take profit at 107.25)

Note of Caution: Bernanke testifies at 6.30 pm, advisable to put stop loss and profit taking. U.S. existing home sales at 7, crude oil at 7.30 GMT+5 hours

Wednesday, 21 Mar, 2012 / 5:40