2. NEWS RADAR
Gold futures prices are lower and hit a fresh 8.5-month low in early U.S.
trading Thursday. Follow-through technical selling pressure and more
weak-long liquidation are featured. The stronger U.S. dollar index is also
a major bearish factor for the precious metals markets. April Comex
gold last traded down $6.60 at $1,571.50 an ounce. Spot gold was last
quoted up $8.60 at $1,573.50. March Comex silver last traded up
$0.018 at $28.62 an ounce.Traders are still digesting the release
Wednesday afternoon of the Federal Reserve’s Open Market
Committee minutes from early January. Those minutes said U.S.
economic conditions are improving to the point that some FOMC
members think its massive asset- purchasing program (quantitative
easing) may have to be changed soon. The FOMC will further address
the issue at its next meeting in March.
TRADING TIPS EXPERT OPINION
SELL GOLD AROUND 1578 GOLD LOOKS BEARISH
TGS 1572/1566 SL 1584 SILVER LOOKS BEARISH
SELL SILVER AROUND 28.75 CRUDE OIL LOOKS BEARISH
TGS 28.45/28.15 SL 29.05 COPPER LOOKS BEARISH
SELL COPPER AROUND NGAS LOOKS BEARISH
3.5600 TGS 3.5400/3.5200 LEAD LOOKS BEARISH
SL 3.5800 NICKEL LOOKS BEARISH
SELL CRUDE BELOW 92.85 ALUMINIUM LOOKS BEARSIH
TGS 92.45/92.05 SL 93.25 ZINC LOOKS BEARISH
3. GOLD HOURLY CHART
S1 S2 R1 R2
1574 1568 1586 1592
GOLD LOOKS BULLISH BUY AROUND 1578.50
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 1572.50 LEVEL AND
MAINTAINING SL OF 1584.50
4. SILVER HOURLY CHART
S1 S2 R1 R2
28.50 28.20 29.10 29.40
SILVER LOOKS BULLISH BUY AROUND 28.75 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 28.45 LEVEL AND MAINTAINING SL
OF 29.05
5. COPPER HOURLY CHART
S1 S2 R1 R2
3.5400 3.5200 3.5800 3.6000
COPPER LOOKS BEARISH SELL BELOW 3.5500
LEVEL IS SUGGESTED AND RECOMMENDED TO
BOOK PROFIT NEAR 3.5300 LEVEL AND
MAINTAINING SL OF 3.5700
0
6. CRUDE OIL HOURLY CHART
S1 S2 R1 R2
94.10 93.70 94.80 95.20
CRUDE LOOKS BEARISH SELL AROUND 92.85 LEVEL
IS SUGGESTED AND RECOMMENDED TO BOOK
PROFIT NEAR 92.45 LEVEL AND MAINTAINING SL
OF 93.25
7. MARKET STATISTICS
OPEN HIGH LOW CLOSE
GOLD 1564.02 1584.63 1554.80 1575.90
SILVER 28.52 28.88 28.30 28.62
CRUDE 96.66 97.06 93.58 94.78
COPPER 3.5985 3.6038 3.5333 3.5585
NGAS 3.264 3.320 3.227 3.236
ALUMINIUM 2101.51 2101.51 2068.63 2072.38
LEAD 2351.75 2351.75 2299.75 2324.13
NICKEL 174040.50 17040.50 16596.00 16752.00
ECONOMIC CALENDAR
DATE CURRENCY FORECAST PREVIOUS
Feb 25 EUR Italian Parliamentary Election
Feb 25 GBP BBA Mortgage Approvals 34.2K 33.6K
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