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By: Crown Forex - 29-08-2008
0votesgold
Gold prices couldn’t breach the resistance level at 842.89 and that provided the shiny metal with strong downside momentum, as prices dropped below the 839.01 the target was again to the downside, the momentum indicators are also supporting a downside wave for today with the target set to be at 828.70, however breaching the upside.
The trading range is among the key support level at 782.00 and the key resistance level at 849.87.
The general trend is to the upside as far as 762.00 remains intact; targets are set at 1080.00 and 1170.00.Support 834.78 830.64 827.88 824.75 821.67 Resistance 836.84 839.01 842.07 846.02 849.87 Recommendation Sell below 843.27 with a target at 828.70 and a stop loss above 846.02
silver
Silver prices failed to breach the 13.94 resistance level and provided a downside momentum for silver, we don't expect a breach to this level today as this level would be able to hold back silver from further gains. However, if the 13.94 level was breached, silver could indulge in a short term upside wave that targets the 14.34 level though we don't expect that to happen.
The trading range is among the key support level at 13.11 and the key resistance level at 14.34.
The general trend is to the upside as far as 13.20 remains intact, with targets at 22.00 and 25.00.Support 13.64 13.55 13.45 13.30 13.20 Resistance 13.72 13.81 13.94 14.10 14.23 Recommendation Sell below 13.94 with a target at 13.59 and a stop loss above 14.10
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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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