-- Posted Tuesday, 7 August 2007 | Digg This Article

SILVER SEPTEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,254.00	$1,276.00	$1,288.00	$1,301.00	$1,307.00	$1,313.00	$1,333.00	$1,354.00
COPPER SEPTEMBER  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$335.40	$338.30	$342.00	$345.20	$350.50	$356.70	$362.40	$372.00
GENERAL MARKET CONDITIONS
Equity investors must be a nervous lot as the Dow Jones falls by 200 points one day only to rise by 400 points the next. August so far has been a choppy run for the equity markets as well the commodity markets. It’s a liquidity driven market in the medium term. There are concerns that the US sub prime losses could spread into other countries and create a global liquidity crunch. In our view, this may not happen as global equity markets have to rise in order to maintain strong global growth. None of the central banks would like to see a bear run in the stock markets. Central banks would use a combination of measures that will ensure that stock markets keep on rising and inflation remains low. There is only one cause of concern and that is central banks are using currency appreciation to side over crude oil induced inflation which will impact their economy over the coming quarters.
The US economy is slowing down. Nothing official about it! Asia (ex Japan) and other emerging nations will be mover of global growth in the next decade. A US slowdown will result in short term correction in base metal prices while maintaining the fundamental bullishness intact.  India and China itself have a decade for growth.  Gold and silver may fall in the short term as and when liquidity pressures prevail but will rise in the long term.
Gold and silver have been sandwiched the crude oil and the US dollar which will continue for the rest of the day. Markets will also be looking forward to the Fed for direction. Expect higher volatility to continue for the rest of the day.
SILVER -- SEPTEMBER FUTURE
Silver needs break and hold $1307 to target $1333 and $1354. On the lower side $1294 and $1277 are the key supports.
COPPER -- SEPTEMBER
100 day MA at $138.40 is the key support and a consolidated fall below $327.60 and $315.30. Needs to break $350.60 to be in uptrend for $362.40.
NYMEX CRUDE OIL -- AUGUST FUTURE
Crude oil has to float over $72.15 to prevent a slide to $69.80 and $66.80. On the higher side $75.60 is the initial resistance with $77.50 and $79.50 as the key resistances.
Happy Profitable Trading
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 Tuesday, 7 August 2007 | Digg This Article

1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email: chintan@insigniaindia.com

Previous Articles by Chintan Karnani, Insignia Consultants

© 1995 - 2019

Live GoldSeek Visitor Map | Disclaimer