-- Posted Thursday, 19 July 2007 | Digg This Article

GOLD AUGUST TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$656.90	$660.20	$664.40	$669.10	$674.40	$678.10	$681.80	$684.80
SILVER SEPTEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,278.00	$1,289.00	$1,301.00	$1,313.00	$1,346.00	$1,358.00	$1,373.00	$1,387.00
COPPER SEPTEMBER  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$344.70	$344.70	$349.80	$351.10	$357.00	$362.00	$368.70	$374.50
GENERAL MARKET CONDITIONS
Retail investors always invest late and it seems that the current rally has once again started generating medium term investment. One should always the “Trust the Yellow Metal” and yesterday was an example of why it should be trusted. If one is looking for a more than twenty percent return in the short term, then this is not the investment avenue. Gold is a highly liquid investment, comparatively less riskier than paper investments, and should be a part of every investment. Gold August futures are expiring at the month end. August future has been a fight between bulls and bears with chances of bulls winning the battle greater. According to our information, there is a balance between the numbers of traders who are long at higher levels and the numbers of short positions.
Silver, technical charts suggest that if it is able to hold to the current levels for one week, the silver can test and even break $1500 in the short term. I am sounding more optimistic. In second half of 2006 and first half of 2007 silver has underformed due to excess hype. The hype is over for silver. Expect greater volatility with the successive lower support base getting higher with passing of each week.
COPPER -- SEPTEMBER FUTURE
Copper, storm before the calm, a break of $360.0 will result in $366 and $372. As long as $351.00 holds on closing basis, downside limited
Happy Profitable Trading
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-- Posted Thursday, 19 July 2007 | Digg This Article

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