Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Wednesday February 15 , 2012 11:44 GMT
Technical Precious Metals
Gold


Midday Report

gold15

The metal is trading with narrow levels around EMA 50, but Stochastic approaches overbought areas, but without triggering any bullish wave. Therefore, our morning expectations remain as they are, noting that consolidation below 1763.00 in general and below 1750.00 over intraday basis support our expectations.

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



Support1724.001718.001711.001706.001700.00

Resistance1735.001742.001750.001754.001763.00

RecommendationBased on the charts and explanations above, our opinion is selling gold below 1735.00, 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

silver15

Silver is trading narrowly within a sideways range outside the ascending main channel, while Stochastic despite the positivity seen on the indicator is approaching overbought areas. Our morning expectations remain as they are. But, a breach of 32.95-80 is necessary for our negative 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

Resistance34.0034.2534.4034.6535.10

RecommendationOur morning expectations remain valid


 
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