-- Posted Monday, 13 August 2007 | Digg This Article

EXPECTED TRADING RANGE
GOLD DECEMBER   -- $676.20 -- $690.00				SILVER  SEPT   -- $1260.0 - $1320.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER SEPT   -- $332.40.00 - $348.70				NYMEX CRUDE OIL   - $70.00 - $75.80
MCX -- LEAD AUGUST FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
109.00	111.30	115.00	116.80	121.40	125.00	127.90	130.80
COMEX -GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$663.10	$670.20	$676.20	$682.10	$683.50	$688.00	$695.40	$700.80
GENERAL MARKET CONDITIONS
Equities loss will be commodities gain as investors diversify. Investors have been bitten unlimited times in 2007 in equities which will result in gains for gold, silver and other precious metals this week.  Days like February 27, 2007 are being repeated every few weeks. Before July, their effect were limited as the same emerged from emerging markets like China. In July, it emerged from USA, which has effected every country. The root cause is excess global liquidity which resulted in record volumes in carry trade market, never witnessed in history. Bulls and Bears were ripped apart like a pack of cards. I still do not understand, why there is so much hue and cry over the stock markets fall. Year on year returns are positive. This is just a correction after more than eighteen months of rise.
This week once things stabilize and calm stay calm, the US dollar will resume its weakness and metals their rise. But expect greater volatility in the first half of the week. There is huge physical demand at lower levels on dips. Copper and silver September future expiry will add to volatility. Energies should rise further this week, which will support gold and silver.
MCX LEAD   -- AUGUST FUTURE (PRICES IN INDIAN RUPEE'S)
Key support at INR 116.80, a consolidated fall below INR 116.80 will result in INR 115.0 and 109.0. Needs to break INR 127.90 to be in uptrend. Global inventories are very low which will prevent prices from a major slide.
GOLD -- DECEMBER FUTURE
$683.50 is the initial resistance with $695.40 and $700.80 as the key resistance. Gold has to break $688 to be bullish zone.. Support at $676.0 & $668
NYMEX CRUDE OIL -- AUGUST FUTURE
100 day MA of $67.16 is the key support. Resistance at $72.07 and $77.07
Happy Profitable Trading
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-- Posted Monday, 13 August 2007 | Digg This Article

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