2. 8
NEWS RADAR
Gold futures languished around $1,600 on Wednesday – the debt
drama in Cyprus and strong central bank buying has not proven potent
enough to overcome waning market sentiment.Gold for April delivery
on the Comex division of the New York Mercantile Exchange was last up
$5.60 at $1,602.90 per ounce, which is near the session high.“Gold is
currently no longer able to profit from the politically-driven financial
markets and the resulting uncertainty among market players,”
Commerzbank AG said in a note.Banks in Cyprus are set to reopen
tomorrow -some still fear a liquidity flight after high deposit accounts
were raided and the country’s second largest bank was ordered to close
to secure an EU, IMF, ECB troika rescue.“If you’re a gold bull you have
to have an uncomfortable feeling this morning.
TRADING TIPS EXPERT OPINION
BUY GOLD ABOVE 1609 TGS GOLD LOOKS BULLISH
1615/1623 SL 1603 SILVER LOOKS BULLISH
BUY SILVER ABOVE 28.80 CRUDE OIL LOOKS BEARISH
TGS 29.00/29.20 SL 28.60 COPPER LOOKS BEARISH
SELL COPPER BELOW 3.4000 NGAS LOOKS BEARISH
TGS 3.3800/3.3600 SL LEAD LOOKS BEARISH
3.4200 NICKEL LOOKS BEARISH
SELL CRUDE AROUND 96.40 ALUMINIUM LOOKS BEARSIH
TGS 96.00/95.80 SL 96.80 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1600 1594 1612 1618
GOLD LOOKS BULLISH BUY AROUND 1609.00
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1615.00 LEVEL AND
MAINTAINING SL OF 1603.00
4. SILVER HOURLY CHART
S1 S2 R1 R2
28.50 28.30 29.00 29.20
SILVER LOOKS BULLISH BUY AROUND 28.80
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 29.00 LEVEL AND
MAINTAINING SL OF 28.60
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.4000 3.3900 3.4400 3.4600
COPPER LOOKS BEARISH SELL AROUND 3.4000
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.3800 LEVEL AND
MAINTAINING SL OF 3.4200
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
96.80 97.00 96.20 96.00
CRUDE LOOKS BEARISH SELL AROUND 96.40 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 96.00 LEVEL AND MAINTAINING SL
OF 96.80
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1615.07 1615.88 1603.34 1608.50
SILVER 29.15 29.17 28.52 28.71
CRUDE 92.40 93.92 92.31 93.84
COPPER 3.4308 3.4645 3.4190 3.4573
NGAS 3.954 4.030 3.936 3.957
ALUMINIUM 1927.01 1948.88 1913.76 1948.38
LEAD 2175.63 2196.88 2159.50 2195.25
NICKEL 16832.00 17203.50 16778.50 17112.00
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Mar 26 USD Unemployment Claims 340K 336K
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