-- Posted Monday, 28 April 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 28th 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
This week a fall in US April consumer confidence, a sharp rise in Eurozone inflation, and more job losses (over -125,000) in the US economy will be negative for the US dollar and positive for gold and silver and energies. If and only if the Fed explicitly says that they will pause in June than the US dollar will gain. If the Fed is hawkish, then the greenback will be volatile and markets will be looking to the April payrolls for their answers. We expect the Fed to be hawkish. Markets already braced for dismal U.S. growth in the first half of 2008 and incremental losses for the US dollar will be limited. The US dollar could swing the other way if U.S. economic data paints an even bleaker picture than already factored and the euro/dollar can make another attempt for 1.60+.
Silver and copper futures are expiring this week. Copper has had a great two months while silver has fallen in April. Crude oil is being supported by the BP north sea pipeline shut down and Nigerian attacks. Copper is technically still bullish while lead, zinc and nickel may have bottomed out and should rise in May.
COPPER -- JULY FUTURE -- INTRA DAY PIVOT: $404.0
Copper has to close below $380 for 3-4 consecutive days to be in a short term bear phase else sharp dips should be used as an opportunity to go long.
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $115.90.
Crude oil targets $125.82 as long as $116.20 and $114.90 holds on closing basis.
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 Monday, 28 April 2008 | Digg This Article | Source: GoldSeek.com

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