US STOCKS HIT RECORD HIGHS DESPITE WEAK NFP REPORT
Wall Street stocks climbed despite the US Labor Department releasing a [...]
Trading news
Trading Analysis - 29th February 2012
TECHNICAL's IN FOCUS
GOLD
Resistance Levels:
$ 1793.92 - $ 1803.99 - $ 1818.07
Support Levels:
$ 1769.76 - $1755.67 - $1745.59
Strategy:
Buy on Dips
(Buy above $1780 targeting $1797.52. Break above 1797 will call for 1826. Confirmation will be done after gold stand above 1800. If gold doesn’t break 1800 and sustain below, will call for 1775 then 1762).
SILVER
Resistance Levels:
$ 37.62 - $ 38.35 - $ 39.51
Support Levels:
$ 35.73- $ 34.57 - $ 33.84
Strategy:
Buy on Dips
(Buy above $36.05 targeting $37.81. A fall below $35.50 will call for $34.50).
CRUDE OIL
Resistance Levels:
$ 107.93 - $ 109.57 - $ 110.39
Support Levels:
$ 105.47 - $ 104.65 - $ 103.01
Strategy:
Sell on Strength
(Short below 107.30 targeting 105.20. if it breaks 107.30 above will call for 108.50 first then 110.00).
Wednesday, 29 Feb, 2012 / 5:05
Source : http://www.acmgold.com/news-analysis
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