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By: Crown Forex - 27-08-2008
0votesgold
The decline we expected to see yesterday happened yet the metal has reversed to enter an ascending channel on the intraday charts. The metal now stalls at the 50% fibonacci fan at 829.00 where a key resistance level is found above it at 838.20 where trading below the latter will continue the downside trend yet if the mentioned resistance is broken at any minute, a new upside wave will be initiated on the intraday basis. We expect today to see a neutral trend with high volatility yet within narrow ranges unless we witness a successful breach of the 800 psychological level or the 838.20 level.
The trading range for today might extend among the support level at 783.35 and the resistance level at 845.50
The general trend remains to the upside as far as 730.00 remains intact with targets at 983.00 and 1016.00Support 824.60 810.45 806.50 805.00 799.50 Resistance 830.20 836.00 843.00 845.50 850.45 Recommendation ...
silver
The metal was able to create a short term support level at 13.11 yet on the other hand, the resistance level at the 23.6% correction at 13.90-13.95 limits the upside movements. We expect trading to remain volatile until either the support or resistance are breached. Momentum indicators show a neutral trend on the intraday.
The trading range for today might extend among the support level at 12.45 and the resistance level at 14.27
The general trend remains to the downside as far as 18.30 remains intact with targets at 12.50 and 10.50Support 13.40 13.30 13.11 12.74 12.45 Resistance 13.60 13.90 14.15 14.27 14.90 Recommendation ...
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Crown Forex
CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de
DISCLAIMER:
The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver &energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk
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