-- Posted Thursday, 1 May 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Market Update for 1st May, 2008
EXPECTED TRADING RANGE
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY 08   -- $382.00 - $396.00	NYMEX CRUDE OIL   - $112.20. - $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
The US dollar sold off after the Fed interest rate cut as there was too much hype over the same. The Fed has said that it may pause on interest rate cuts and also cut downside risk to the US economy.  Unless the US economy boomerangs once again before the next meeting in end June, the Fed will not cut interest rates for the time being. US April non farm payrolls tomorrow could set the tone for the rest of the May for the US dollar and metals and energies. It’s better to trade in the technicals this summer instead of scratching your head through each and every data. Fundamentally precious metals and energies are bullish. Fundamentals do not change overnight.
If the spillover effect of US housing downturn does not move into credit repayments and autoloans then the US economy will start to grow. I will be monitoring these payments closely as higher expenses on necessities (food, energies) could result in default rates going up in these sectors. If the default rates in these sectors go up, the US economy will take a few years to recover. Even if default rates in credit card repayments goes up, there will be under reporting initially. After housing, this is the next risk we need to take a closer look at.
SILVER -- JULY  FUTURE
200 day MA at $1529 is the key support for May. For the whole of May as long as $1529 holds on daily closing basis, it will target $1947.
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 Thursday, 1 May 2008 | Digg This Article | Source: GoldSeek.com

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