-- Posted Wednesday, 27 February 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 27th February, 2008
GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $956.30	COMEX SILVER -- MARCH FUTURE -- $1915.0
EXPECTED TRADING RANGE
GOLD APRIL 08   -- $944.0 -- $980.10	SILVER  MARCH 08  -- $1854.0 - $2018.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $376.00 - $400.00	NYMEX CRUDE OIL   - $98.00 - $107.50
GENERAL MARKET CONDITIONS
Silver shines brighter than other metals. It’s all about the dollar decline story and expectations that Fed interest rate cuts may prevent an immediate US recession for metals and energies. Silver is getting its due. Shorts in silver are getting squared off and new longs are being built. The rise in silver will also result in some short term hot money flowing into silver which so far has lagged and means more gains for silver. The Eurozone economy may not slowdown as much which has resulted in traders paring bets over interest rate cuts by the European central bank. This has resulted in the Euro/USD edging past 1.50 for more. Unless profit taking comes in silver, silver will continue to trade firm.
Crude oil is floating over $100 a barrel and looks headed for $107 and $112 in the short term. Higher crude oil and energy prices are inflationary and gold is the best hedge against a global slowdown. Only in the last quarter of 2008 higher base effects will result in lower headline inflation till then global inflation will remain on the higher side. It’s a momentum market and momentum is bullish in all metals and energies.
SILVER -- MARCH FUTURE -- INTRA DAY PIVOT $1856
Silver intra day key support at $1834. For the day, silver holds $1887 then $1988 is the target.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $384.0
Copper targets $390, $403 if it holds $378 and $372.0
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $97.52
Only a break of $102 will result in $107 and $112. Key weekly support at $95.31 and $97.52.
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, 27 February 2008 | Digg This Article | Source: GoldSeek.com

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