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Asian Metal Market Update



By: Chintan Karnani


-- Posted Friday, 28 September 2007 | Digg This ArticleDigg It!

INSIGNIA CONSULTANTS

 

 

Precious Metals Market Update for  28th September, 2007

 

 

GOLD

SILVER

 

 

COMEX GOLD DECEMBER FUTURE -- $744.00

COMEX SILVER -- DEC FUTURE -- $1372.00

 

 

 

Lower

Expected

Higher

 

Lower

Expected

Higher

 

 

BUY

727.00

739.00

749.00

BUY

1316.00

1351.00

1384.00

 

 

SELL

738.00

748.00

758.00

SELL

1348.00

1387.00

1404.00

 

 

EXPECTED TRADING RANGE

 

 

GOLD DECEMBER   -- $730.00 -- $748.00

SILVER  DEC   -- $1337.0 - $1388.00

 

 

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

 

 

COPPER DEC   -- $358.00 - $371.00

NYMEX CRUDE OIL   - $81.20 - $84.30

 

 

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

 

 

For Intra Day Updates, visit www.insigniaconsultants.in -- "Free Reports"

 

 

GOLD DECEMBER TECHNICAL LEVELS

 

 

SUPPORT

RESISTANCE

 

 

S1

S2

S3

S4

R1

R2

R3

R4

 

 

$730.00

$735.00

$739.10

$743.30

$748.00

$751.70

$758.00

$761.10

 

 

SILVER DECEMBER TECHNICAL LEVELS

 

 

SUPPORT

RESISTANCE

 

 

S1

S2

S3

S4

R1

R2

R3

R4

 

 

$1,318.00

$1,337.00

$1,351.00

$1,362.00

$1,376.00

$1,388.00

$1,406.00

$1,439.00

 

 

COPPER DECEMBER  TECHNICAL LEVELS

 

 

SUPPORT

RESISTANCE

 

 

S1

S2

S3

S4

R1

R2

R3

R4

 

 

$352.00

$358.00

$361.00

$364.50

$368.00

$371.00

$380.00

$391.00

 

 

GENERAL MARKET CONDITIONS

 

 

It would be advisable to adopt a sell on sharp surges. Follow crude oil and the dollar. Markets will correct as they are now in a phase wherein they are testing the patience of all those who have short open positions. It is just a matter of when these shorts are going to be squared up thereby giving a chance to the longs to book profits. Buy Intraday on major dips with proper stop losses in place.

 

 

 

 

 

MCX TECHNICAL LEVELLS

 

 

COMMODITY

PDC

SUPPORT

RESISTANCE

 

 

S1

S2

S3

S4

R1

R2

R3

R4

 TECHNICAL LEVELS --  METALS

GOLD  -- DEC

9472

9339

9364

9420

9445

9525

9575

9629

9663

SILVER -- DEC

18190

17593

17776

17920

18055

18240

184297

18420

18614

COPPER -- NOV

317.4

306.5

309

311.1