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-- Posted Tuesday, 19 February 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 19th February, 2008
GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $910.30	COMEX SILVER -- MARCH FUTURE -- $1719.0
EXPECTED TRADING RANGE
GOLD APRIL 08   -- $898.0 -- $928.00	SILVER  MARCH 08  -- $1688.0 - $1770.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $352.00 - $370.00	NYMEX CRUDE OIL   - $92.60.00 - $98.50
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GENERAL MARKET CONDITIONS
Copper continues to shine bright. LME inventories have been continuously falling. Expectations that China will need more copper and aluminum to repair the damaged infrastructure (ahead of the Olympics games) has resulted in greater investment interest. Copper will remain firm and could reach record highs if global inventories continue to fall and the Chinese buy at higher levels. The only negative factor for copper is reduced demand and Chinese copper supplies resuming normal operations. Higher copper prices will prevent silver and other base metals from a fall.
Gold and silver are in a consolidation phase and should break out from the current wider trading range soon. The technical picture is still bullish; however failure to break recent highs in the near term will result in a correction. A continuous rise in platinum prices and South African power woes will prevent gold from a collapse in the short term. At higher levels physical demand is virtually non existent.
We continue with a buy on sharp dips strategy for gold and silver as key technical supports are holding. From the copper prices till copper does not break $382, one needs to use higher stop losses while going long.
SILVER -- MARCH FUTURE -- INTRA DAY PIVOT $1752.0
Silver has to break $1752 and $1770 else it will trade in $1692-$1760 wider range. Consolidated fall below $1692 will result in $1652.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $357.0
$368-$382 is the technical congestion zone. Failure to break $382 this month will result in fall to $336 and below.
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, 19 February 2008 | Digg This Article | Source: GoldSeek.com

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