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-- Posted Tuesday, 16 October 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $761.80				COMEX SILVER -- DEC FUTURE -- $1388.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $748.50 -- $769.00`				SILVER  DEC   -- $1368.0 - $1412.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $357.40.00 - $380.70				NYMEX CRUDE OIL   - $82.80 - $88.60
MCX traders can SMS their Name & Telephone to 9311139549 for a free trial.
SILVER DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,331.00	$1,353.00	$1,369.00	$1,388.00	$1,412.00	$1,426.00	$1,449.00	$1,467.00
GENERAL MARKET CONDITIONS
Let the retail investors pump in more money into commodities and equities, melting away the snow and creating a smooth drive way for the downslide. This is all I can comment in short on the current rise in precious metals and emerging market equities. Retail investors in emerging markets are now of the belief that their stock markets are invincible. In the short term they may be right, but in the medium term to I hold an opposite view. Gold is getting support from crude oil. Low growth and high inflation. Increasing money supply is also inflationary. What will the Fed and the ECB do?
Gold and silver were moving in opposite direction. Traders were a confused lot. Some of the traders went long in silver, as gold remained firm only to get their stop losses triggered. Some of the traders went short in gold as silver fell and their stop losses were triggered also. One should take every commodity separately and not link with each other. Each commodity has different market moving factors. Silver has certainly disappointed and will find sellers as spot approaches $14.50
Expect volatility to rise today also. Use bear spreads to hedge the risk. Low risk traders can buy far dated puts in energies, as they look attractive.
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	154.10	156.70	158.80	162.30
MCX -- LEAD OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
A break of 154.10 will result in further gains to 156 and 159. On the lower side as long as 149.60 holds downside is limited.
SILVER -- DECEMBER FUTURE
Silver fell just after meeting our $1412 target and needs to hold $1269 to prevent a fall to 200 day MA around $1349.0 and $1331. A consolidated break $1412 will result in $1449
NYMEX CRUDE OIL --  FUTURE
Crude oil needs to hold $86 to target $89.85. On the lower side as long as $82.80 holds, downside will be limited.
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 Tuesday, 16 October 2007 | Digg This Article | Source: GoldSeek.com

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