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Technical Trading: Gold, Silver and Crude

By   |  Commodities Technical Analysis  |  Oct 20, 2011 02:01AM GMT  |  Add a Comment
 
  GOLD Support: - 1621.22(main). Break of the latter will give 1609.80, where a correction is possible. Then 1597.50, where a correction is also possible. Be there a strong impulse, we would see 1585.76. Continuation wil give 1568.32.
Resistance: - 1648.13, 1669.35, 1687.53 and 1710.00(main), where a correction may happen. Break would bring 1723.17, where a correction may also happen. Then follows 1743.70. Be there a strong impulse, we’d see 1771.90. Continuation would bring 1797.38 and 1822.47.

SILVER

Support: - 30.57(main).where correction is possible. Break of the latter would give 30.44, where correction may happen. Then goes 30.34. If a strong impulse, we would see 30.09. Continuation would give 29.87.
Resistance : - 32.26, 32.63, 32.87 and 33.08(main), where correction is possible. Break will lead 33.17, where again may be a correction. Then follows 33.30. If a strong impulse, we would have 33.44. Continuation would give 33.53.

Light Crude :
Support (daily close):
39.36, 34.88, 31.28, 23.17, 19.57, 15.10, 11.70, 9.64, 8.11 and 6.98(published on December 07, 2008).
Resistance(daily close): 95.73, 98.21, 99.45, 101.48 and 102.27 (published on October 30, 2007). Next levels 103.73, 105.32, 106.54, 109.35, 112.56 and 117.28. Then follow 121.50, 124.03 and 126.56(added on February 29, 2008). Continuation will bring 132.73, 135.08, 139.92, 141.46 and 144.00( added on May 12, 2008).
Next levels : 149.06, 151.88, 154.13, 157.36, 159.46, 162.00, 169.87 and 172.13(added on July 04, 2008).

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