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Trading Analysis - 2nd April 2012
TECHNICAL's IN FOCUS
GOLD
Resistance Levels:
$ 1676.00 - $ 1680.10 - $ 1687.50
Support Levels:
$ 1664.50 - $1657.10 - $1653.00
Strategy:
Buy on Dips
(Long around 1663, target 1676 & 1688. Downward penetration of 1663 will call for 1654 & 1644)
SILVER
Resistance Levels:
$ 32.70 - $ 32.91 - $ 33.19
Support Levels:
$ 32.20- $ 31.92 - $ 31.71
Strategy:
Buy on Dips
(Long at 32.20, first target 32.90 , then 33.40. Stop loss recommended at 31.90)
CRUDE OIL
Resistance Levels:
$ 103.85 - $ 104.69 - $ 105.22
Support Levels:
$ 102.48 - $ 101.95 - $ 101.11
Strategy:
Sell on Strength
(Sell below $103.90, targeting $102.80 & 102.10)
Note of Advice: German PMI at 1.30 p followed by US PMI at 7.00 pm (GMT+5)
Monday, 02 Apr, 2012 / 5:07
Source : http://www.acmgold.com/news-analysis
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