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-- Posted Friday, 29 February 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 29th February, 2008
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY 08   -- $379.00 - $400.00	NYMEX CRUDE OIL   - $100.50.00 - $107.50
GENERAL MARKET CONDITIONS
Just when equities markets start to stabilize investors get a few bodyline balls from various central bankers which hit them hard in the body. The Fed Chairman said the dollar's depreciation is "a positive factor" for reducing the U.S. trade deficit. The central banker suggested that it would be “fair” to suggest it is tougher for the Fed to respond now than it was during the last recession back in 2001. He also warned that some small US banks could fail. These comments should have been said a few months back when the sub prime market collapsed. It’s all about the timing of comments and the Fed chairman’s comments are ill timed. These comments are negative for equities and very positive for commodities including metals.
Expect higher volatility to continue in all metals despite the bullish trend. Silver and copper March futures expiry is today. Silver has had the best month in the past five years. I have been constantly writing in the past not to write off silver and I am now proved right. We continue with our bullish view for silver for March also.
COPPER -- MAY FUTURE -- INTRA DAY PIVOT: $384.0
March price target $421.30, $455.50 as long as $356.90 holds.
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $100.50
Crude oil targets $107, $112 as long as $97.60 and $95.0 holds. In March crude oil has to fall below $95 for losses.
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 Friday, 29 February 2008 | Digg This Article | Source: GoldSeek.com

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