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-- Posted Tuesday, 15 January 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 15th January, 2008
GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $910.10	COMEX SILVER -- MARCH FUTURE -- $1663.0
EXPECTED TRADING RANGE
GOLD FEBRUARY 08   -- $888.0 -- $925.00	SILVER  MARCH 08  -- $1623.0 - $1723.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $329.00 - $345.00	NYMEX CRUDE OIL   - $92.20 - $96.00
GENERAL MARKET CONDITIONS
It's a momentum market and momentum is bullish for gold and silver and bearish for the US dollar which will continue for the rest of the month. Unless the US economy shows signs of recovery gold and silver will not fall. Silver was volatile yesterday. Some of the traders in India are buying gold on dips and when gold falls they sell silver as a hedge as silver has been falling more than gold. This will continue for the rest of month unless silver outperforms gold on any day. Base metals are headed higher ahead of Chinese New Year demand in the first week of February. Lead has a technical break out and should rise another ten percent from current levels.
The trading strategy for the day is to play with the momentum and buy on dips. As and when the momentum shows signs of fading, then sell with a stop loss. In momentum markets, it's difficult to decide on intra day tops and intra day bottoms. The key is to keep on booking profits on your trades.
SILVER -- MARCH FUTURE -- INTRA DAY PIVOT $1638
$1665 target achieved, $1728 and $1776 are the next targets as long as silver holds $1623 and $1588.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $338.70
Only a $339 will result in $350. On the lower side only a fall below $329 will result in $316.0
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, 15 January 2008 | Digg This Article | Source: GoldSeek.com

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