Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Friday April 8 , 2011 06:04 GMT
Technical Precious Metals
Share |
Gold


Morning Report

 gold08

The provided four hour graph shows that the metal is trading above 1464.00, weakening the possibility of the bearishness. The bullish harmonic butterfly which we used before and has been limited at 1308.00 came back into focus, where the metal is trading above 127.2% of its CD leg. Moving above 127.2% will send us towards 161.8% Fibonacci projection of CD at 1495.00. We have a technical obstacle around 1474.00, but in general the bullishness is favored over intraday basis as far as it stabilized above 1455.00 areas.

The trading range for today is among the key support at 1424.00 and key resistance now at 1500.00.

The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1485.00 remain intact.

Previous Report  Weekly Report



Support1460.001455.001449.001445.001440.00

Resistance1468.001474.001485.001495.001500.00

RecommendationBased on the charts and explanations above our opinion is, buying gold around 1455.00 targeting 1474.00, followed by 1495.00 and stop loss with a four hour closing below 1438.00 might be appropriate.


Silver


Morning Report

 silver08

The classical overview shows how the metal's actions was limited around 39.25 zones, where it inclined once more proving the effect of the bullish channel that dominated the metal during 2011. Also, we notice that the minor upside channel –colored in blue- remains unbroken. In the interim, SMA 20 and SMA 50 are positive although Stochastic became close to overbought areas. Stochastic didn't show a negative crossover and therefore, we hold onto our bullish scenario over intraday basis.

The trading range for today is among the key support at 38.15 and key resistance now at 41.35.

The general trend over short term basis is to the upside, targeting 40.95 as far as areas of 30.80 remain intact with weekly closing.

Previous Report  Weekly Report



Support39.8539.5539.2539.0038.65

Resistance40.0040.2040.6040.9541.35

RecommendationBased on the charts and explanations above our opinion is, buying silver around 39.55, gradually targeting 40.20 and 40.95; while the stop is a four hour closing below 38.65 might be appropriate.


 
Note: Our website content is subject to errors, changes and updates; the use of the websites constitutes your acceptance of our Privacy Policy

Risk Disclaimer: The content of icn.com and any page in the website contain information for investors/traders and is not a recommendation to buy or sell currencies, stocks, gold, silver & energies, nor an offer to buy or sell currencies, stocks, gold, silver & energies.

The information provided reflects the writers' opinions that deemed reliable but is not guaranteed as to accuracy or completeness. ecPulse is not liable for any losses or damages, monetary or otherwise that result.

I recommend that anyone trades currencies, stocks, 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, stocks gold, silver & energies presented should be considered speculative with a high degree of volatility and risk.
2012 ICN.COM All Rights Reserved.