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Asian Metals Market Update for 13th August , 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Monday, 13 August 2007 | Digg This ArticleDigg It!

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

 

MCX traders can SMS their Name & Telephone to 9311139549 for a free trial.

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 Monday, 13 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:





 



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