-- Posted Friday, 26 October 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $775.80				COMEX SILVER -- DEC FUTURE -- $1403.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $765.50 -- $792.00				SILVER  DEC   -- $1378.0 - $1460.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $344.00 - $362.70				NYMEX CRUDE OIL   - $87.60 - $93.60
MCX traders can SMS their Name & Telephone to 9311139549 for a free trial.
GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
	S2	S3	S4	R1	R2	R3	R4
$756.40	$759.10	$765.00	$772.20	$784.60	$791.20	$799.00	$807.00
GENERAL MARKET CONDITIONS
At this pace of rise crude oil can easily break $100 next week and target $125. Gold can break $800 for $850. Silver, the laggerd should target $15.50 soon. All news is positive news. US imposing new sanctions on Iran, escalation of tensions between Turkey and Iraq and Opec's hesitancy to raise crude oil production has acted as a further booster to high energy prices.
The culprit is the Fed following the "Zero Interest rate Policy" like the bank of Japan to boost US economy. Next week if the Fed cuts interest rates by 0.50%, then I believe the next interest rate cut will be in March. If the fed cuts interest rate by 0.25% then will continue with the same till March. The key question is what will be the top for energy prices and gold prices and what will be the bottom in the US dollar as October to March has traditionally been a US dollar bashing period. In a Free Money market, speculators can push energy prices to any levels and the state will not intervene.
Overall gold is bullish and silver should catch with gold, copper is in a neutral zone but has room for gains if other base metals support it.
MCX -- NICKEL OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1,147.00	1,167.00	1,190.00	1,224.00	1,248.70	1,267.40	1,301.00	1,312.00
MCX -- NICKELOCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
Nickel needs to break 1267 for 1300. On the lower side as long as 1190 holds, downside will be limited.
GOLD -- DECEMBER FUTURE
Gold targets $800, $830 as long as $760 holds. Only a daily close below $760 will result in $749 and below
NYMEX CRUDE OIL --  FUTURE
$90 target achieved, $93 and $100 are the next targets as long as $87 holds.
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, 26 October 2007 | Digg This Article | Source: GoldSeek.com

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