Trading news

Trading Analysis 21st May 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1603.70 - $1615.40 - $1633.40

Support Levels:
$ 1574.00 - $1556.00 - $1544.30

Strategy:
Buy on Dips

Long above 1585, target 1602 and 1616. 1600 is a strong resistance; Short below 1602, put stop loss at 1608.

Silver:
Resistance Levels:
$ 29.14 - $ 29.58 - $ 30.26

Support Levels:
$ 28.03 - $ 27.35 - $ 26.92

Strategy:
Buy on Dips

Long above 28.50, target 29.45 and 30.00.If it does not break 29.00, then short and target 28.00; 29.10 is a strong resistance level.

Crude Oil:
Resistance Levels:
$ 92.92 - $ 94.03 - $ 94.87

Support Levels:
$ 90.97 - $ 90.13 - $ 89.02

Strategy:
Range Trade

Oil is expected to stay between 90.97 and 92.92.

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 0.9890 - $ 0.9939 - $ 0.9988

Support Levels:
$ 0.9792 - $ 0.9743 - $ 0.9694

Strategy:
Buy on Dips

GBPUSD :
Resistance Levels:
$ 1.5857 - $ 1.5899 - $ 1.5962

Support Levels:

$ 1.5752 - $ 1.5689 - $ 1.5647

Strategy:
Buy on Dips

EURUSD :
Resistance Levels:
$ 1.2833 - $ 1.2889 - $ 1.2986

Support Levels:
$ 1.2680 - $ 1.2583 - $ 1.2527

Strategy:
Sell on Strength

Monday, 21 May, 2012 / 4:07

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