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Trading Analysis-9th February 2012

TECHNICAL's IN FOCUS

Gold:
Resistance Levels:
$ 1748.70 - $ 1766.20 - $ 1777.50

Support Levels:
$ 1719.90 - $1708.60 - $1691.10

Strategy: Range Trade

(Buy gold above $ 1724, target profit at $1740 & $1754. Downward breach $1714 will call for a slide towards $1702 & $1694)

 

Silver:
Resistance Levels:
$ 34.26 - $ 34.83 - $ 35.13

Support Levels:
$ 33.40- $ 33.09  - $ 32.53

Strategy: Range Trade

(Buy positions above $33.60 targeting $34.70. A fall below $33.60 will call further downside towards $32.85. Later in the day investors will focus on ECB meeting.)

 

Crude Oil:
Resistance Levels:
$ 99.83 - $ 100.96 - $ 101.82

Support Levels:
$ 97.84 - $ 96.98 - $ 95.85

Strategy: Buy on Dips

(Buy above $98.07, targeting 100.20. A fall below $98.00 may call for further downside towards $ 97.20 & $95.80.Later in the day investors will focus on ECB meeting.)

 

Thursday, 09 Feb, 2012 / 5:29

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

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