Trading news

Trading Analysis - 8th May2012

TECHNICAL's IN FOCUS

Gold: 
Resistance Levels:
$ 1644.70 - $1650.20 - $1656.50

Support Levels:
$ 1632.90 - $1626.60 - $1621.10

Strategy:
Buy on Dips
Long above 1625, target 1638 and 1648. Downside penetration of 1625 may call for 1618.

Silver:
Resistance Levels:
$ 30.45 - $ 30.78 - $ 31.17

Support Levels:
$ 29.74 - $ 29.35 - $ 29.02

Strategy:
Buy on Dips
Long above 29.25, target 30.90. Downside penetration of 29.25 may call for 29.02

Crude Oil:
Resistance Levels:
$ 99.0 - $ 100.1 - $ 101.9

Support Levels:
$ 96.1 - $ 94.3 - $ 93.2

Strategy:
Range Trade
Market is likely to remain in the range of 96.15 and 98.75.

CURRENCIES:

AUDUSD :
Resistance Levels:
$ 1.0250 - $ 1.0289 - $ 1.0360

Support Levels:
$ 1.0140 - $ 1.0069 - $ 1.0030

Strategy:
Sell on Strength
Annual Budget Release at 1430 (GMT+5)hours

GBPUSD :
Resistance Levels:
$ 1.6219 - $ 1.6250 - $ 1.6304

Support Levels:
$ 1.6134 - $ 1.6080 - $ 1.6049

Strategy:
Buy on Dips

EURUSD :
Resistance Levels:
$ 1.3092 - $ 1.3129 - $ 1.3195

Support Levels:
$ 1.2989 - $ 1.2923 - $ 1.2886

Strategy:
Buy on Dips
French Bank Holiday! German Industrial Production at 1500 followed by ECB President Draghi Speaks at 1730 (GMT+5) hours

Tuesday, 08 May, 2012 / 4:41

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

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