24th to 28th August, 2015
GOLD
RECOMMENDATION: SELL
Overview: Gold price continue to fluctuate around $1060.00 level, we will expect continue the bearish trend in upcoming trend. Expected trading range for next week is between $1134 support and $1170 resistance. On the upside, the resistance level is at $1170, if market breaks this resistance level upside breakout is expected with a potential target of $1200.
Indicators: We will suggest bearish trend for this week supported by SMA 51.
Trading Strategy: For this week market is in bearish or sideways trend one can go for sell position below the resistance level at $1170.
CRUDE OIL
RECOMMENDATION: SELL
Overview: Crude oil price continue to fluctuate around $40 level, we will expect continue the bearish trend in upcoming trend. Expected trading range for next week is between $37.00 support and $42.00 resistance. On the downside, the support level is at $37.00, if market breaks this support level downside breakout is expected with a potential target of $32.50.
Indicators: We will suggest bearish trend for this supported by SMA100.
Trading Strategy: For next week market is in bearish or sideways trend one can go for sell position below the resistance level at $42.00
WEEKLY TECHNICAL LEVELS SCRIPT GOLD SILVER CRUDE COPPER NG
R2
R1
S1
S2
1205.03
1182.77
1123.37
1086.23
16.248
15.747
14.712
14.178
44.68
42.45
38.93
37.64
346.7
342.30
329.85
321.8
2.834
2.761
2.643
2.598
MAJOR ECONOMIC DATA Date Aug, 24th Aug, 25th
Time
Currency
Economic Data
Forecast
Previous
3:55pm
USD
FOMC Member Lockhart Speaks
-0.50%
1.00%
3:00pm
USD USD
CB Consumer Confidence New Home Sales
92.8 512K
90.9 482K
Aug, 26th
1:30pm
0.60% 3.40%
Aug, 27th
Core Durable Goods Orders m/m Durable Goods Orders m/m FOMC Member Dudley Speaks Crude Oil Inventories Prelim GDP q/q
0.30% -0.50%
3:00pm 3:30pm 1:30pm
USD USD USD USD USD
3.20%
2.6M 2.30%
3:00pm
USD USD
Unemployment Claims Pending Home Sales m/m
275K 1.30%
277K -1.80%
3:00pm
USD USD USD USD
Goods Trade Balance Core PCE Price Index m/m Personal Spending m/m Revised UoM Consumer Sentiment
0.10% 0.40% 93.2
-62.3B 0.10% 0.20% 92.9
Aug, 28th
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