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-- Posted Thursday, 24 May 2007 | Digg This Article

INSIGNIA CONSULTANTS
Precious Metals Market Update for 24th May,  2007
GOLD				SILVER
COMEX GOLD JUNE FUTURE -- $662.90				COMEX SILVER JULY FUTURE -- $1315.00
	Lower	Expected	Higher		Lower	Expected	Higher
BUY	548.10	654.70	666.60	BUY	1263.00	1287.00	1314.00
SELL	654.00	668.00	673.00	SELL	1285.00	1320.00	1337.00
EXPECTED TRADING RANGE
GOLD JUNE -- $653..00 -- $669.00				SILVER  JULY  -- $1285.0 - $1321.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER JULY   -- $323.10.00 - $342.00				NYMEX CRUDE OIL  JULY    - $64.60 - $67.70
GOLD JUNE TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$647.40	$652.10	$654.80	$657.00	$662.70	$665.80	$669.00	$671.50
SILVER JULY TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,276.00	$1,285.00	$1,292.00	$1,305.00	$1,318.00	$1,327.00	$1,337.00	$1,344.00
COPPER JULY  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$299.30	$310.20	$318.80	$326.70	$337.20	$345.50	$352.20	$358.80
GENERAL MARKET CONDITIONS
Gold and silver are trading in a range for the past three days. However they have been unable to
edge higher. Failure to edge higher by tomorrow will result in severe losses for both of them soon.
Economic news from US, Eurozone should begin from this today which will increase the intra day
volatility. In India MCX, NCDEX and physical traders are very bearish and are looking at $600 in the
near term. Hence physical prices as well as MCX and NCDEX prices are not rising despite the
rise in Comex futures.
DAILY TRADING STRATEGY
Trade on the key technical supports and resistances of both Gold and Silver but with proper stops in
place. Markets are directionless with a bearish tone and also tend to take up any major movement in
other commodities irrespective of their relevance. "Wait to trade" than "Trade and wait"
GOLD -- JUNE FUTURE
Gold  has key support at 652.60 and resistance at 666.40 and should trade in this range today also.
Markets are waiting for a breakout on the downside as is being shown by the trading pattern daily.
Lets wait and see……
SILVER -- JULY  FUTURE
There is nothing new to write about Silver also. Though it is showing pretty strong characteristics but
that also will be seen this wek itself coz it’s a make or break situation coming up.
Happy Profitable Trading
FOR ACTUAL AND FULL REPORTS please register on our new website www.insigniaconsultants.in for a free  trial service for an indepth analysis on metals and energies along with intra day and positional trading calls on MCX. NCDEX and COMEX and other INTERNATIONAL markets. SMS on Mobiles, FAX and MESSENGER service also available.
Disclaimer : Any opinions as to the commentary, market information, and future direction of
prices of specific currencies, precious metals, base metals, or equity indices reflect the views
of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability
for any losses incurred in connection with any decision made, action or inaction taken by any
party  in reliance upon the information provided in this material; or in any delays, inaccuracies,
errors in, or omissions of Information.

-- Posted Thursday, 24 May 2007 | Digg This Article

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