Crude oil recorded sharp gains on Wednesday, notching the highest finish since mid-March.
Recent demand updates from several agencies signalled increased uptake of oil [...]
Trading news
Trading Analysis - 4th May 2012
Gold:
Resistance Levels:
$ 1649.00 - $1663.10 - $1672.00
Support Levels:
$ 1626.00 - $1617.10 - $1603.00
Strategy:
Sell on Strength
Short below 1647, target 1630 and 1622. Upside penetration of 1647 could see 1655 and 1660.
U.S. Non Farm Employment Change, Unemployment Rate and Hourly Earnings all 1730 (GMT+5) hours.
Silver:
Resistance Levels:
$ 30.51 - $ 31.01 - $ 31.35
Support Levels:
$ 29.67 - $ 29.33 - $ 28.83
Strategy:
Sell on Strength
Short below 30.75, target 29.50. Upside penetration of 30.75 could see 31.00.
Crude Oil:
Resistance Levels:
$ 104.52 - $ 106.50 - $ 107.58
Support Levels:
$ 101.46 - $ 100.38 - $ 98.40
Strategy:
Range Trade
Market is likely to remain in the range of 101.46 and 104.00
CURRENCIES:
AUDUSD :
Resistance Levels:
$ 1.0304 - $ 1.0346 - $ 1.0379
Support Levels:
$ 1.0229 - $ 1.0196 - $ 1.0154
Strategy:
Sell on Strength
GBPUSD :
Resistance Levels:
$ 1.6215 - $ 1.6242 - $ 1.6271
Support Levels:
$ 1.6159 - $ 1.6130 - $ 1.6103
Strategy:
Sell on Strength
Halifax HPI at 1200 (GMT+5) hours
EURUSD :
Resistance Levels:
$ 1.3189 - $ 1.3226 - $ 1.3273
Support Levels:
$ 1.3105 - $ 1.3058 - $ 1.3021
Strategy:
Sell on Strength
Retail Sales at 1400(GMT+5)hours
Friday, 04 May, 2012 / 3:24
Source : http://www.acmgold.com/news-analysis
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