-- Posted Friday, 25 April 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 25th April, 2008
EXPECTED TRADING RANGE
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY 08   -- $382.00 - $396.00	NYMEX CRUDE OIL   - $114.70. - $119.20
This is just an excerpt of the main report. To receive a copy of the full report mail a request to sms@insigniaindia.com
GENERAL MARKET CONDITIONS
It’s the US dollar story for precious metals, base metals and energies. US dollar gains, the invincible crude oil also falls. The big question is whether the US dollar has bottomed out against the major’s. In my view, we need to wait and watch for the Fed meeting and the April payrolls next week. If and only if both of them confirm that the US economy will recover, albeit at a snails pace over the coming months that the US will continue to gain else gains on the greenback will be used as an opportunity to go short. Growth differentials between US and other nations will play a key role for the US dollar over the next few months. The lagging effects of higher food and energy prices will be felt globally over the next few months which will set the tone for the US dollar against emerging market currencies.
Commodity markets are very volatile. If one trades against the trend, all his stop losses get triggered. However the volatility has followed the medium term technical charts. Sometimes short term technical charts give reverse trading signals. As and when short covering comes, commodities will gain. The short term technical picture is still negative.
COPPER -- MAY FUTURE -- INTRA DAY PIVOT: $404.0
If copper fails to break $404 next week then a fall to $378 and $354 is in the cards. Copper is unfazed by Chile mine worker strike news.
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $115.90.
A close below $116.20 will result in $114.10 and $111.80. Resistance at $118.40 and $120.20
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, 25 April 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

Previous Articles by Chintan Karnani, Insignia Consultants

© 1995 - 2019

Live GoldSeek Visitor Map | Disclaimer