-- Posted Wednesday, 14 November 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $805.50				COMEX SILVER -- DEC FUTURE -- $1479.00
GOLD DECEMBER   -- $788.50 -- $820.00				SILVER  DEC   -- $1400.0 - $1550.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $306.00 - $332.70				NYMEX CRUDE OIL   - $89.20 - $95.60
“SMS alert” for MCX and Comex also available to subscribers (India and Dubai traders)
COPPER DECEMBER  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$299.00	$301.00	$308.00	$311.00	$316.70	$326.40	$332.70	$337.00
GENERAL MARKET CONDITIONS
It has been a very volatile week due to lack of major market moving news. Position squaring and rebuilding has added to the volatility precious metals fell as both the US dollar gained and crude oil fell. These two conditions must act simultaneously for precious metals to be in a short term bear run, else the fall will provide investment oppurtunity (particularly silver). Markets have ignored the negative economic numbers from eurozone as they are still better than US and Japan. Higher volatility will continue for the rest of the day
As far base metals are concerned, nickel has fallen and if it falls continuously for the next two days, it could result in a technical break down. Zinc is still not out of the woods. Overall base metals are fragile except lead which will be highly volatile.
SILVER -- DECEMBER FUTURE
In short term as long as silver holds $1386-$1400, downside will be limited and silver will once again target $1627.
COPPER -- DECEMBER
Copper needs to hold $298-$299 zone in short term for further losses. At lower levels, value based buying should come up and a bottom should be formed so that copper can retarget $346 soon.
NYMEX CRUDE OIL --  FUTURE
As long as $89 holds in short term, downside will be limited and crude oil will target $100 once again.
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 Wednesday, 14 November 2007 | Digg This Article | Source: GoldSeek.com

1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email: chintan@insigniaindia.com

Previous Articles by Chintan Karnani, Insignia Consultants

© 1995 - 2019

Live GoldSeek Visitor Map | Disclaimer