2. 8
NEWS RADAR
Gold futures inched lower on Thursday after the dollar strengthened
following the release of better-than-expected US data; however, the
dip has been fairly modest indicating that another attempt at $1,600 an
ounce might not be far off.Gold for April delivery on the Comex division
of the New York Mercantile Exchange was last down $4.30 at $1,584.10
an ounce. Trade has ranged from $1,575.20 to $1,588.50.In data, initial
claims for unemployment benefits declined by 10,000 last week to a
seasonally adjusted 332,000, hitting a five-year low and easily beating
the 352,000 forecast.“Once again the better data knocked metals lower
as the dollar picked-up, so again we wait to see if they can bounce back.
Generally the better data should be good for industrial metals and it
could be a headwind for bullion,” William Adams of FastMarkets said.
“That said, if gold manages to shake-off another dip then that will
TRADING TIPS EXPERT OPINION
continue to suggest good underlying buying interest, which in turn may
worry the shorts,” Adams added.
BUY GOLD AROUND 1585 GOLD LOOKS BULLISH
But a TGS 1591/1597 SL economy and a debate within LOOKS BULLISH when
stabilizing U.S. 1579 SILVER the Fed as to
to throttle backAROUNDeasing have limited investor interest in gold.
BUY SILVER on its 28.50 CRUDE OIL LOOKS BEARISH
Through Wednesday, gold was down 5.2% COPPER LOOKS BEARISH
TGS 28.70/28.90 SL 29.10
in 2013..
SELL COPPER AROUND NGAS LOOKS BULLISH
3.5350 TGS 3.5150/3.4950 LEAD LOOKS BEARISH
SL 3.5550 NICKEL LOOKS BEARISH
SELL CRUDE AROUND 93.35 ALUMINIUM LOOKS BEARSIH
TGS 93.10/92.90 SL 93.55 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1586 1580 1599 1605
GOLD LOOKS BEARISH SELL AROUND 1585.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1579.00 LEVEL AND
MAINTAINING SL OF 1591.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
28.70 28.50 29.10 29.30
SILVER LOOKS BULLISH BUY AROUND 28.50
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 28.70 LEVEL AND
MAINTAINING SL OF 28.30
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.5070 3.4870 3.5270 3.5470
COPPER LOOKS BEARISH SELL BELOW 3.5350
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.4740 LEVEL AND
MAINTAINING SL OF 3.5140
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
92.05 91.95 92.35 92.45
CRUDE LOOKS BULLISH BUY AROUND 91.50 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 91.70 LEVEL AND MAINTAINING SL
OF 91.30
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