Tuesday 12 July 2011

Commodities update: 13 July 2011 technical analysis


13/7/11
FTSE 100
Dow Jones
S&P500
Gold
WTI Crude Oil
ACTION
R3
6,065.28
12,694.3
1,341.01
1,605.8
101.43
BULL
R2
5,999.84
12,611.8
1,331.89
1,591.6
100.10
STOP
R1
5,934.40
12,529.4
1,322.76
1,577.5
98.76
SELL
PIVOT
5,863.72
12,488.1
1,318.05
1,559.2
96.16

S1
5,798.28
12,405.7
1,308.92
1,545.1
94.82
BUY
S2
5,727.60
12,364.4
1,304.21
1,526.8
92.22
STOP
S3
5,662.16
12,282.0
1,295.08
1,512.7
90.88
BEAR

GOLD:
SINCE LAST TWO DAYS WE ARE WRITING THAT IF GOLD SUSTAIN ABOVE$1563.40 WILL MAKE ALL TIME HIGH.
·     TODAY, INTRA-DAY GOOD SUPPORT: $1526.80. BUY ABOVE $1545.10TARGET: $1559.20, THEN NEXT TARGET: $1577.50.
·     IF GOLD CROSS ABOVE $1577.50 AND SUSTAIN THEN NEXT TARGET WILLBE $1591.60.
·     BUT IF GOLD CROSS ABOVE $1591.60 THEN BULLS RALLY UPTO $1605.80TO $1610 LEVEL SOON.
WTI CRUDE:INTRADAY SUPPORT: $92.22,
BUY ABOVE $94.82, TARGET $96.16 NEXT TARGET: $98.76.

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