Gold Daily Analysis for 03.05.2012

The pair is trading along an downtrend. The downtrend may be expected to continue while pair is trading below resistance level 1652, which will be followed by reaching support level 1638 and if it keeps on moving down below that level, we may expect the pair to reach support level 1630.

An uptrend will start as soon as the pair rises above resistance level 1652, which will be followed by moving up to resistance level 1667.

Resistances: 1652, 1667, 1675
Supports: 1638, 1630, 1620

S&R Levels for 03.05.2012

Commodity	S1	S2	S3	R1	R2	R3
GOLD JUNE	29050	28950	28750	29300	29420	29550
SILVER JULY	56800	56300	55800	57600	58200	58750
CRUDE MAY	5555	5530	5450	5625	5690	5730
COPPER	444	439	434	449.5	451	454
NICKEL	915	907	895	938	951	964
LEAD	112.5	111.8	110.5	115	116.8	118
ZINC	107	105.5	103.8	109.2	110.5	111.8
ALUMINIUM	109	108.5	107	112	113.5	115