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Trading Analysis - 4th April 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1689.70 - $ 1707.50 - $ 1732.20

Support Levels:
$ 1647.20 - $1622.50 - $1604.70

Strategy:
 Sell on Strength

(Short below 1661, target 1645 and 1630. Upside penetration of 1661 will call for 1670 and 1683.)

 

 

Silver:
Resistance Levels:
$ 33.55 - $ 33.84 - $ 34.38

Support Levels:
$ 32.72- $ 32.18 - $ 31.89

Strategy:
Sell on Strength

(Short at 32.8, target 32.18 and 31.89. Upside penetration of 32.8 will call for 31.01 and 33.55)

 

 

 

Crude Oil:
Resistance Levels:
$ 104.93 - $ 105.85 - $ 106.52

Support Levels:
$ 103.34 - $ 102.67 - $ 101.75


Strategy:
Sell on Strength

(Short at 104.3, target 102.06. Upside penetration of 104.3 will call for 107.22)

 

Word of Caution: U.S. PMI at 7pm and Crude Oil Inventories at 7.30pm (GMT+5 hours)

Thursday, 05 Apr, 2012 / 6:23

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

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