-- Posted Tuesday, 18 December 2007 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 18th December, 2007
GOLD				SILVER
COMEX GOLD FEBRUARY FUTURE -- $797.50				COMEX SILVER -- MARCH FUTURE -- $1401.0
EXPECTED TRADING RANGE
GOLD FEBRUARY 08   -- $790.0 -- $818.00				SILVER  MARCH 08  -- $1376.0 - $1444.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $288.00 - $314.00				NYMEX CRUDE OIL   - $90.00 - $94.60
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SILVER MARCH TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,353.00	$1,377.00	$1,382.00	$1,397.00	$1,422.00	$1,444.00	$1,461.00	$1,479.00
GENERAL MARKET CONDITIONS
Year end profit taking and abating fears of a recession in US economy has resulted in US dollar gains and fall in crude oil prices and precious metals prices. Medium term to long term bullishness for precious metals as well as crude oil, medium term bearishness is there for the US dollar too. In the short term there could be more gains for the US dollar and pains for precious metals and base metals. These are all a part and parcel of year end closing. 2007 has been an exceptional year for every market and 2008 will be another dream year. Wheat prices reaching $10 a bushel, inflation is here to stay and gold's demand as an inflation hedge will remain.
2007 has been the year of mergers and acquisitions and leveraged buy outs (LBO's) at very high valuations. In 2008 if any of the M&A and LBO give negative returns to the investors, global stock markets will move into another round of bear rally which will be long lasting.  I will be keeping a close watch on these stocks as valuations were on the higher end.
SILVER -- MARCH FUTURE
As long as silver holds $1338-$1354 zone in short term, downside will be limited. It needs to break $1422 to resume its weekly bullish zone.
NYMEX CRUDE OIL --  FUTURE
As long as crude oil holds $90-$90.40 downside will be limited and it will target $94-$95.50 once again. Falls below $90 then $87.40 is the target. Investor should sell April/May futures on rise with a price target of $78.
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, 18 December 2007 | Digg This Article | Source: GoldSeek.com

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