Trading news

Trading Analysis 23rd May 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1593.70 - $1610.70 - $1627.10

Support Levels:
$ 1560.30 - $1543.90 - $1526.90

Strategy:

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)

Wednesday, 23 May, 2012 / 4:36

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

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