Another comment this time from US president Bush that the US dollars’ decline was not ``good tidings'' for proponents of a strong dollar. If these comments continue, the US dollar’s fall and crude oil’s rise will not stop unless there is coordinated central bank intervention. Traders and investors will use a rise as an exit opportunity in equities and invest the same else where or sit on cash.Metals and energies will be volatile. The federal reserve has been trying to use a series of measures to bring the house in order but markets have ignored such calls.
China's retail sales climbed 20.20%, the fastest pace in at least nine years, a sign that consumer spending may sustain the world's fastest- growing major economy as export demand weakens. China will slowly move away to a domestic demand growth against an export led growth and will be less dependent on US exports over the coming years. If Chinese domestic demand remains firm base metals’ long term bullish trend will be there but volatility will remain high. Steel, we are very bullish and will prefer to invest in steel stocks and steel futures for long term on any five to ten percent dip. Copper, Nickel and other base metals will be volatile.
COPPER -- MAY FUTURE -- INTRA DAY PIVOT: $372.
Copper has managed to hold $372 and will target $392 and $402 once again.
NYMEX CRUDE OIL --FUTURE -- INTRA DAY PIVOT: $106.0
It remains to be seen whether $112 is broken or not. Support at $106.
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 employeeshave any liability
for any losses incurred in connection with any decision made, action or inaction taken by any
partyin reliance upon the information provided in this material; or in any delays, inaccuracies,
errors in, or omissions of Information.
-- Posted Thursday, 13 March 2008 | Digg This Article | Source: GoldSeek.com
1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email: chintan@insigniaindia.com
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.