Gold crude forex calls/views

Gold price may face some more correction this week hence major supports are there to hold gold prices at 1116$ and 1090$ if breaks these levels than we expect around 1050$ and 1020$ hence gold prices may take more correction than expected if not able to sustain these levels cause global clues are quite negative due to GOLDMAN SACHS issue so better take positions intraday untill not clearing the position of world market

Weekly Levels are given below:

Resistance: 1155$- 1205$
Supports: 1116$-1070$

For any more query on trades send me personal message
 
As said last week silver prices may correct if breaks 18.10$ and it happened just lke that.

This week silver prices may correct more however a good support now at 16.80$ below this level may correct till 16 and 15$ but if again give close above 18.25$ than may fire for 19-21$ . Global clues are not so good so better take positions less and follow strict levels.


Weekly Levels are given below:
Resistance: 18.05$-19.60$
Supports: 16.80$-15.60$
 
Crude has a good support now at 81.20$ below this may test major hurdle at 79.80$ and a good resistance at 84.80 and 86.20$ below hurdle crude may drop till 76-74$ and above 86.20$ close may open for 90-94$

Weekly Levels are given below

Resistance: 86.30$-90.50$
Supports: 81.20$--79.80$
 
Gold prices are trading in range in 1120-1160$ above 1170$ can trade higher till 1200-1230$ however below 1120$ close may lead for 1090-1070$ a major support is 1070$ below close this can trade in 3digits .

Weekly Levels are given below:

Resistance: 1170$- 1205$
Supports: 1120$-1070$

For trade signals send me private message
 
Silver prices as we said above 17.80$ can hit 18.25 and more .

This week it has resistance around 18.80$ above this may fire for 20-21$ a good support now at 17.20$ below this silver prices can test 16-15.70$ market is looking quite good so look for buy around supports .


Weekly Levels are given below:
Resistance: 18.80$-20.60$
Supports: 17.20$-15.60$

For Trade signals send me private message
 
Crude closed good above 85$ however now has a small resistance at 85.60$ above this may test major hurdle 86.30$ and if give 2close above hurdle than expect 90-92$ a good support occurs now at 82.20$ below close this may lead 79.80 and more

Weekly Levels are given below

Resistance: 86.30$-90.50$
Supports: 82.20$--79.80$

For trade signals send me private message
 
The Metals Pit Review

For the week of April 26th, 2010

By PitGuru Daniel Cronin



Precious metals had a very good week considering what was going on with the strengthening in the USD. Gold prices stayed above $1,125 and rallied back up to $1,145 by the end of the week showing how strong this market is rising when the USD is strengthening. The reason why Gold is rallying now is that the risk of a serious and contagious sovereign debt crisis is increasing and thus leading to safe haven demand. From Bloomberg, “Greek bonds tumbled, pushing yields to the highest since at least 1998 as Greece needs to repay 8.5 billion euros ($11.3 billion) of bonds by May 19……The FOMC of the Federal Reserve in two days may keep the benchmark interest rate unchanged to .25%. The Fed has kept rates at zero to 0.25% since December 2008, helping send the dollar down and gold in dollars to a record in December.” 1.



Silver has been making a very nice push to $19.00 numerous times but still needs to break this level to really get investor’s eyes open on this market. Gold will try and trade up to its last resistance level of $1,173 this week so watch that number carefully. Traders loved the pullback in the market last week as a chance to buy and are now pushing this market higher in the early part of the trading week.



Copper broke out of its trading range as well on the Sunday night session rallying above $3.55 to $3.56 as last week’s housing numbers came in much better than expected as the price of the base metal jumped from $3.48 to $3.53. There is now great support at the $3.45-$3.46 level as prices have gone down there three times now with a sharp rally every time after. Look for this market to try and get back to $3.60 by week’s end.



1. http://www.bloomberg.com/apps/news?sid=aR7cC8Nho3JI&pid=20601087
 
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