-- Posted Thursday, 8 November 2007 | Digg This Article | Source: GoldSeek.com
GOLD
SILVER
COMEX GOLD DECEMBER FUTURE -- $835.90
COMEX SILVER -- DEC FUTURE -- $1524.5
EXPECTED TRADING RANGE
GOLD DECEMBER-- $809.50 -- $852.00
SILVERDEC-- $1454.0 - $1600.0
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC-- $326.00 - $348.70
NYMEX CRUDE OIL- $90.20 - $98.60
"A VERY HAPPY DIWALI TO ALL"
COPPER DECEMBER TECHNICAL LEVELS
SUPPORT
RESISTANCE
S1
S2
S3
S4
R1
R2
R3
R4
$309.00
$316.10
$323.50
$326.30
$330.10
$336.00
$343.00
$346.00
GENERAL MARKET CONDITIONS
Silver volatility was it's peak yesterday as it showed it true nature after a long period of time. It is one of the reasons why low risk traders prefer to invest in gold and not in silver. Silver was moving like a drunken man. Yesterday some of the traders who were hesitant to go long in gold and silver at lower levels started going long only for the stop losses to be hit. This is festival time in India. I would prefer to do less trade but profitable one instead of doing impulsive trades and make a loss only to do trade one more time just to recover the loss and the next one to make a profit. I would like that everyone has a happy diwali and not a loss making diwali with a sulking face with mind somewhere else. If you are not confident of your trades then no do not trade for the next two days. Trading opportunities come every day.
Base metals have fallen yesterday. All I can say is if global growth is to fall in next year why should base metals rise.
We will be back on Monday. A Very Happy and Profitable Diwali to all of you.
COPPER -- DECEMBER
Copper can fall to $316 and $309 if it fails to break $326 and $337
NYMEX CRUDE OIL --FUTURE
Still within striking distance from $100 and can break $100 as long as $89 holds.
HAPPY PROFITABLE TRADING
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-- Posted Thursday, 8 November 2007 | Digg This Article | Source: GoldSeek.com
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