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-- Posted Friday, 28 September 2007 | Digg This Article

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.
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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