Thursday 7 July 2011

Commodities update: 7 July 2011 technical analysis


Commodities update:


7/7/11
Brent
Gold
WTI Crude Oil
R3
116.73
1,555.2
99.62
R2
115.69
1,546.6
98.63
R1
114.66
1,538.0
97.64
PIVOT
113.28
1,524.7
96.77
S1
112.25
1,516.1
95.78
S2
110.87
1,502.8
94.91
S3
109.84
1,494.2
93.92

7/7/11
Brent
Gold
WTI Crude Oil
Break Out Long
114.95
1,541.4
97.67
Short
114.28
1,535.4
97.16
HL2
114.06
1,533.4
96.99
HL1
113.84
1,531.4
96.82
LL1
113.40
1,527.4
96.48
LL2
113.18
1,525.4
96.31
Long1
112.96
1,523.4
96.14
Break  Out Short
112.29
1,517.4
95.63



CRUDE OIL update:
·      We have written about crude oil on 5 JULY 2011, technically above$97.31 bull will win the race.
·      If sustain above $98.63 --- --- target $100

Goldupdate:   
·      We have updated on 6 JULY 2011 ABOVE $1523 and $1530 no problem for bull to make new high and will crash.
·       Today above $ 1538 will tryto touch$ 1546,
·      Above $1546  if sustain willtry touch $1555.
  • Below $1502.08 bear will pull down towards $1494.
  •       Intra-day major support of gold is $1516.

Silver update (target achieved)
·      We have updated on 6 JULY 2011 ABOVE $33.667 will fly --$35.26 bullwill win the race---- target $36.10.
·    See today touch $36.23 and crash.

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