Thursday, June 13, 2013

Technical Analysis For Gold, Silver, Crude and Spot Market...


GOLD TECHNICAL REPORT



GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1365.00
Our preference: LONG positions above 1365 with targets @ 1402 & 1423.
Alternative scenario: The downside penetration of 1365 will call for 1354 & 1338.
Comment: a support base at 1365 has formed and has allowed for a temporary stabilisation.
Trend: ST Bearish; MT Bearish

Key levels Comment

1445** Intraday resistance
1423** Intraday resistance
1402** Fib retracement (61.8%)
1386.8 Last
1365** Intraday pivot point
1354** Intraday support
1338** Intraday support

US CRUDEOIL TECHNICALS


Crude Oil (Jul 13) intraday: the bias remains bullish.


Pivot: 94.45
Our preference: LONG positions above 94.45 with targets @ 96.4 & 98.1.
Alternative scenario: The downside penetration of 94.45 will call for 93.2 & 91.35.
Comment: supported by a rising trend line.
Trend: ST Range; MT Range

Key levels Comment

99.6** Intraday resistance
98.1** Intraday resistance
96.4*** Intraday resistance
95.28 Last
94.45** Intraday pivot point
93.2** Fib retracement (61.8%)
91.35** Intraday support


EUR/USD TECHNICALS


  EUR/USD intraday: supported by a rising trend line.

Pivot: 1.3295
Our preference: Long positions above 1.3295 with targets @ 1.339 & 1.343 in extension.
Alternative scenario: Below 1.3295 look for further downside with 1.326 & 1.3225 as targets.
Comment: the pair remains supported by a rising trend line and is challenging its previous high.

Key levels

1.3520
1.3430
1.3390
1.335 last
1.3295
1.3260
1.3225


GBP/USD TECHNICALS


GBP/USD intraday: the upside prevails.

Pivot: 1.56
Our preference: Long positions above 1.56 with targets @ 1.57 & 1.574 in extension.
Alternative scenario: Below 1.56 look for further downside with 1.5565 & 1.552 as targets.
Comment: the pair has struck against its resistance and is facing a pull back ahead of further advance.

Key levels

1.582
1.574
1.57
1.5659 last
1.56
1.5565
1.552


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Asad Rasheed
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Email:asad@cfb.ae
Email:info@cfb.ae

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