Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.

Adam Hewison, charting strategist of INO.TV, brings you another edition of his invaluable service of daily technical updates on the ups and downs of various markets. This short analysis is a great tool for keeping one’s finger on the pulse and timing the markets.

Click the image below to hear his latest views on gold , silver, the US Dollar Index, the CRB Index, crude oil and the S&P 500 Index. Also, click here to have an instant analysis of any ticker symbol in your portfolio performed by INO.

Here is a summary of Adam’s latest views:

• SP 500: -60. This market remains in a broad trading range with resistance coming in 1,296, 1,305 and finally 1,315 which represents a 62% Fibonacci retracement. Major downside support is at 1,250.

• Silver:-60. Currently this market is oversold, however it is in a state of flux with no clear trend. Using the Donchian Channels and the fact that this market is oversold, I expect to see a bounce from current levels. Major support at $34.00.

• Gold: +55. Gold is currently oversold and we expect to see some further sideways action. The Donchian channel comes in at 1,503. Major support at $1,500.

• Crude Oil: -60. Trading range. Long-term indicator remains positive. Support coming in at $96/barrel. Market is currently oversold. Choppy market.

• US Dollar Index: -85. The longer-term and mid-term Trade Triangles remain in a negative position. Resistance now at 75.00 and 76.50. Minor support at 73.50; major support at 73.00.

• CRB Commodity Index: +55. Near-term resistance at 350. Minor support at 340; major support at 335. Trading range.

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Source: INO.TV, June 14, 2011.

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Technical Talk: Daily update (Tuesday, June 14, 2011) – time to buy gold & silver? was first posted on June 15, 2011 at 9:40 am.
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