TECHNICAL's IN FOCUS
Gold:
Resistance Levels:
$ 1593.70 - $1610.70 - $1627.10Support Levels:
$ 1560.30 - $1543.90 - $1526.90Strategy:
Sell on Strength
Short below 1567, target 1542. 1567 is a good resistance, if broken, it may hit 1577.
Note of Caution:EU SUMMIT!
U.S. New Home Sales @ 1900 (GMT+5) hours.
Silver:
Resistance Levels:
$ 28.66 - $ 29.14 - $ 29.51
Support Levels:
$ 27.81 - $ 27.44 - $ 26.96
Strategy:
Sell on Strength
Short below 28.35, target 27.25. Upside penetration of 28.35 may call for 29.14.
Crude Oil:
Resistance Levels:
$ 93.03 - $ 94.22 - $ 95.13
Support Levels:
$ 90.93 - $ 90.02 - $ 88.83
Strategy:
Range Trade
Oil is likely to remain in the range of 90.80 and 93.26.
Crude Oil Inventories @ 1830(GMT+5)
CURRENCIES:
AUDUSD :
Resistance Levels:
$ 0.9880- $ 0.9993 - $ 1.0053
Support Levels:
$ 0.9707 - $ 0.9647 - $ 0.9534
Strategy:
Sell on Strength
GBPUSD :
Resistance Levels:
$ 1.5821 - $ 1.5887 - $ 1.5928
Support Levels:
$ 1.5714 - $ 1.5674 - $ 1.5608
Strategy:
Sell on Strength
MPC Meeting Minutes and Retail Sales @ 1330 followed by Industrial Orders @ 1500(GMT+5) hours.
EURUSD :
Resistance Levels:
$ 1.2765 - $ 1.2871 - $ 1.2928
Support Levels:
$ 1.2602 - $ 1.2545 - $ 1.2440
Strategy:
Sell on Strength
Current Account @ 1300 (GMT+5) hours, Industrial Orders(tentative) and EU Economic Summit (all day)