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Trading Analysis - 8th March 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1691.20 - $ 1698.40 - $ 1708.20

Support Levels:
$ 1674.20 - $1664.40 - $1657.20

Strategy:
Buy on Dips

(Long positions above 1663 with 1694 & 1705 as next targets, downside penetration of 1663 will call for 1647 & 1640. Spot gold may break a resistance at $1,694 and rebound more to $1,712 per ounce. A failure to break $1,694 will result in a resumption of the preceding downtrend towards the March 6 low of $1,663.95.)

 

Silver:
Resistance Levels:
$ 33.88 - $ 34.17 - $ 34.73

Support Levels:
$ 32.02- $ 32.46 - $ 32.19

Strategy:
Buy on Dips

(Buy above $32.60 targeting $34.52 and $35.02. A break below $32.60 will call for $31.53.)

 

Crude Oil:
Resistance Levels:
$ 107.02 - $ 107.89 - $ 109.22

Support Levels:
$ 104.82 - $ 103.49 - $ 102.62

Strategy:
Buy on Dips

(Long above 104.35 target 106.50 & 107.45)

Thursday, 08 Mar, 2012 / 7:35

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

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