-- Posted Friday, 20 June 2008 | Digg This Article | Source: GoldSeek.com
INSIGNIA CONSULTANTS
Asian Metals Market Update for 20th June, 2008
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER JULY 08-- $363.00 - $383.00
NYMEX CRUDE OIL- $125.60. - $135.40
CALL MANISH@ 9311139549/9312245649 FOR LIVE MCX PRICES+MCX-COMEX ARBITRAGE+COSTING+GOLD SILVER RATIO+SPOT FOREX PLEASE LOGIN TO WWW.METALSIGNALS.COMUSER ID:10050 + PASSWORD : demo (PLS DISABLE POPUP BLOCKER)
EURO/USD-- TECHNCAL LEVELS
SUPPORT
RESISTANCE
S1
S2
S3
S4
R1
R2
R3
R4
1.5230
1.5299
1.5438
1.5473
1.5542
1.5597
1.5614
1.5678
GBP/USD-- TECHNCAL LEVELS
SUPPORT
RESISTANCE
S1
S2
S3
S4
R1
R2
R3
R4
1.9508
1.9574
1.9630
1.9690
1.9735
1.9794
1.9832
1.9902
GENERAL MARKET CONDITIONS
Crude oil has fallen after china raised energy prices. China raised petrol and diesel by 18 per cent and electricity tariffs rose by just less than 5 per cent. Technically if crude oil does not break $141 in the rest of the month then a fall to $120 and $110.60 is on the cards. Base metals will be volatile after the Peru government clinched a deal with mining workers. However workers are yet to return to work. Trading strategy in base metals is to buy only on a break of key technical resistances. Nickel continues to disappoint and looks set to fall below 2008 lows.
Next week is Fed week. Till then there is no major market moving economic news. The Fed is expected to remain hawkish and thereafter the US dollar will be the key to commodity prices. Crude oil traders will be preparing for the hurricane season in July. July to September, hurricanes in the Gulf of Mexico will be the key for crude oil prices. In 2007 crude oil prices fell as there no major hurricanes.
COPPER -- JULY FUTURE -- INTRA DAY PIVOT: $363.0
$371 price target achieved. As long as copper holds $369 it will target $386 and $394.
NYMEX CRUDE OIL --FUTURE -- INTRA DAY PIVOT: $131.60
A fall below $130.64 will result in $125.60 and $121.60. Resistance at $135.10 and $138.60
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.
Nothing in this article is, or should be construed as, investment advice.
-- Posted Friday, 20 June 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.
Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
OilSeek.com
