-- Posted Friday, 12 October 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $752.30				COMEX SILVER -- DEC FUTURE -- $1384.5
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $744.50 -- $766.00				SILVER  DEC   -- $1349.0 - $1440.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $357.40.00 - $380.70				NYMEX CRUDE OIL   - $78.20 - $82.60
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GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$732.20	$736.50	$744.00	$751.10	$754.50	$761.00	$767.00	$771.00
GENERAL MARKET CONDITIONS
There is hardly anything new to comment on gold and silver as they continue to rise on the back of a weaker US dollar. A weaker US dollar is the prime reason for precious metals and energy price rise. In secular bull market, every bad news is ignored while markets react positively to every good news. This is happening with gold and silver. In such situations there are bouts of very high volatility which the day trader as well as the investor needs to take care. Gold and silver are at the moment in one way traffic. However expect volatility to rise.
This is the last trading day of the week. Considering the secular bull that all the metals and energies had, traders will either square off their longs or go long for Monday. Only the brave hearted will go short. Better to buy some puts and hedge.
MCX -- LEAD OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
135.80	140.20	143.40	147.90	153.80	158.20	160.20	163.80
MCX -- LEAD OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
A break of 153.80 will result in further gains to 156 and 159. On the lower side as long as 149.60 holds downside is limited.
GOLD -- DECEMBER FUTURE
Gold targets $754 and $787 as long as $732 holds.
COPPER -- DECEMBER
Copper has to break $375-$382 zone for further gains to $400. On the lower side it is getting good support at $357.40. A fall below $357.40 will result in $348.60
NYMEX CRUDE OIL --  FUTURE
As long as crude oil floats over $78.60 there is very possibility of $85-$87. A consolidated fall below $78.60 will result in $76.0
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 Friday, 12 October 2007 | Digg This Article | Source: GoldSeek.com

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