Trading news

Trading Analysis - 7th May 2012

TECHNICAL's IN FOCUS

Gold: 
Resistance Levels:
$ 1653.2 - $1661.2 - $1674.4

Support Levels:
$ 1632.00 - $1618.8 - $1610.8

Strategy:
Sell on Strength
Short below 1650, target 1630. Upside penetration of 1650 could see 1661 and 1674.


Silver:
Resistance Levels:
$ 30.68 - $ 30.93 - $ 31.38

Support Levels:
$ 29.98 - $ 29.53 - $ 29.28

Strategy:
Sell on Strength
Short below 30.75, target 29.25. Upside penetration of 30.75 could see 31.00.


Crude Oil: 
Resistance Levels:
$ 101.6 - $ 104.8 - $ 106.8

Support Levels:
$ 96.4 - $ 94.4 - $ 91.2

Strategy:
Range Trade
Market is likely to remain in the range of 96.40 and 100.20

CURRENCIES:


AUDUSD :
Resistance Levels:
$ 1.0241 - $ 1.0313 - $ 1.0349
Support Levels:
$ 1.0133 - $ 1.0097 - $ 1.0025

Strategy:
Sell on Strength


GBPUSD :
Resistance Levels:
$ 1.6186 - $ 1.6225 - $ 1.6248

Support Levels:
$ 1.6124 - $ 1.6101 - $ 1.6062

Strategy:
Range Trade
Note: Bank Holiday!


EURUSD :
Resistance Levels:
$ 1.3146 - $ 1.3211 - $ 1.3244
Support Levels:
$ 1.3048 - $ 1.3015 - $ 1.2950

Strategy:
Range Trade
Sentix Investor Confidence at 1330 followed by German Factory Orders at 1500 (GMT+5)

Monday, 07 May, 2012 / 5:45

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

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