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-- Posted Tuesday, 20 November 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $776.10				COMEX SILVER -- DEC FUTURE -- $1414.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $756.50 -- $793.00				SILVER  DEC   -- $1370.0 - $11480.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $277.00 - $316.00				NYMEX CRUDE OIL   - $92.35 - $98.60
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GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
	S2	S3	S4	R1	R2	R3	R4
$749.90	$763.50	$768.30	$773.20	$782.20	$786.90	$798.60	$801.80
COPPER DECEMBER  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$270.50	$277.70	$279.10	$287.70	$298.50	$301.40	$312.00	$316.00
GENERAL MARKET CONDITIONS
Higher retail consumption is to a certain extent being dependent on financial services industry in every country. Financial service industry creates fast jobs and salaries also rise quickly. In India, more and more brokerages are trying to expand quickly in every nook and corner of India and they are recruiting at a very fast pace. The rise in Indian equities has resulted in house wives trading part time in equities and commodities. There individuals who are dependent only on investment/trading in equities and commodities for their livelihood. Whenever a new broking office is opened anywhere in India, job creation multiplier effect is very high. I know a friend of mine who used to deal in computer parts two years ago and due to stiff competition he closed his computer parts shop and replaced it with an equity trading house by taking sub broking from any broker. He know thinks, he made the right decision as his average income has doubled. This is happening in every part of the world
Global growth to a certain extent dependent on financial services industry. If financial services industry has  sustained slowdown as we have seen in USA, the country could experience lower growth rates. Financial services is nothing but paper assets. I once again repeat for the long term investors, the choice is yours invest in “paper assets or hard assets”. In the short term, any investment is good, if it gives a fast buck.
Precious metals and base metals and equities fell yesterday as investors exited everything. Investors are concerned over a global slowdown.  If global growth is to slowdown in 2008 why should base metals rise. Zinc has lost more than fifty percent over the past one year. Other base metals have a technical break down. There could be more losses in gold and silver and those who are long at higher levels need to have the patience. Gold at $900 or $1000 will be reality. However there are many investors in India who invested at $840 on the hope of $950 and now they are panicking. Timing on investment is important. Please do not rush to invest when you read or hear of any great investment idea. Always check the fundamentals and technicals before investing. After all its your money and profit and losses are also yours.
GOLD -- DECEMBER FUTURE
Gold has to hold $770 and $763.40 to prevent a fall to $749.90 and $733. It needs to break $798.60 to be in bullish zone.
NYMEX CRUDE OIL --  FUTURE
$91-$96 range will continue and only a break of the same will result in $86 or $102.
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, 20 November 2007 | Digg This Article | Source: GoldSeek.com

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