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-- Posted Friday, 27 June 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 27th June, 2008
MCX & COMEX LEVELLS AND STRATEGIES NOW ON WWW.METALSIGNALS.COM (ID:10050 PWD:demo)PLEASE CALL MANISH @ 9311139549/9312245649 FOR DETAILS (LIVE PRICES COSTING)
PLATINUM OCTOBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$2,002.00	$2,036.00	$2,043.00	$2,056.00	$2,089.00	$2,100.00	$2,214.00	$2,272.00
EURO/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.5572	1.5614	1.5698	1.5734	1.5762	1.5825	1.5888	1.5962
GBP/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.9630	1.9690	1.9756	1.9830	1.9913	1.9990	2.0034	2.0163
GENERAL MARKET CONDITIONS
Back to square one for metals and energies and for the US dollar. 2008 started with the search for alternate investments away from equities and finally we are catching up with the same. April till end June was a bit of a consolidation period for gold, silver and energies which seems to be seems to be over. Metals and energies gained on US dollar losses and the slump in global stock markets. Volatility will be on the higher side and managing volatility will be the key.
Crude oil prices rose to a new high of $140.39 after Libya said that it may put curbs on crude oil output. OPEC's president, Chakib Khelil, said a European interest-rate rise may send oil surging to $150-$170. US companies continued their downsizing of the work force. Brunswick Corp. plans to close four more North American plants and may fire as much as 10 percent of its workforce to slash costs after U.S. powerboat sales fell to the lowest in more than 40 years. Bank of America will cut about 7,500 jobs after buying Countrywide Financial Corp. The Fed will not be able to raise interest rates aggressively till US companies reduce their work force. Preference over growth to inflation will result in a short term steady decline the in the US dollar.
The US dollar fell after the Federal Reserve meeting on expectations that the European central bank and other central banks will raise interest rates faster than it. In the upcoming week the US dollar will trade with a softer bias unless there are comments from central bank officials. Interest rate differentials have caused the US dollar’s fall. The US dollar will gain if and only if either interest rate differential or growth differentials narrow. Crude oil prices will once again be the key factor for global financial markets
PLATINUM OCTOBER -- INTRA DAY PIVOT $2055.0
Platinum targets $2160 and $2360 by next week as long as $2032 and $2009 holds
MCX CARBON CREDIT --NOVEMBER (price in Indian Rupees)
Carbon Credit has to hold 1425 to be in bullish zone. Resistance at 1459 and 1486.
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.
Nothing in this article is, or should be construed as, investment advice.

-- Posted Friday, 27 June 2008 | Digg This Article | Source: GoldSeek.com

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