Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
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Daily Reports  Tuesday February 14 , 2012 11:48 GMT
Technical Precious Metals
Gold


Midday Report

gold14 

Gold is trading within narrow levels; however, the metal is stable below 1735.00 and outside the ascending channel. But, Stochastic currently attempts to provide a positive crossover, which could delay our expectations. But, we are still bearish in general, yet a breach of 1700.00 is necessary now to confirm our negative outlook.

The trading range for today is among the key support at 1670.00 and key resistance now at 1794.00.

The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.

Previous Report

Weekly Report



Support1711.001706.001700.001694.001687.00

Resistance1724.001735.001742.001750.001754.00

RecommendationBased on the charts and explanations above, our opinion is selling gold below 1724.00, and take profit in stages at (1706.00 and 1687.00) and stop loss with 4-hour closing above 1750.00 might be appropriate. In case the metal reached our stop loss point, our opinion is buying gold around 1750.00 and take profit in stages at 1763.00, 1772.00 and 1794.00 and stop loss with 4-hour closing below 1724.00 might be appropriate.


Silver


Midday Report

silver14 

Silver is stable within areas between 33.40 and 33.75, and also within the sideways range mentioned in our morning report, which is outside the ascending channel. Our morning expectations remain valid. But we indicate that a breach of 34.40 and 34.65 is sufficient to negate our expectations.

The trading range for today is among the key support at 31.00 and key resistance now at 35.70.

The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.

Previous Report

Weekly Report



Support33.4033.2033.0032.8032.45

Resistance33.7534.0034.4034.6535.10

RecommendationBased on the charts and explanations above, our opinion is selling silver below 33.75, and take profit in stages at (32.80, 32.10 and 31.00) and stop loss with 4-hour closing above 34.65 might be appropriate. In case the metal reached our stop loss point, our opinion is buying silver around 34.65 and taking profit in stages at 35.10 and 35.70 and stop loss with 4-hour closing below 33.75 might be appropriate.


 
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