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-- Posted Tuesday, 1 July 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 1st July, 2008
MCX & COMEX LEVELLS AND STRATEGIES NOW ON WWW.METALSIGNALS.COM (ID:10050 PWD: demo)PLEASE CALL MANISH @ 011-32919880/9311139549 FOR DETAILS (LIVE PRICES COSTING)
PLATINUM OCTOBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$2,036.00	$2,043.00	$2,056.00	$2,075.00	$2,089.00	$2,100.00	$2,132.00	$2,202.00
EURO/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.5230	1.5570	1.5614	1.5698	1.5777	1.5825	1.5888	1.5962
GBP/USD  -- TECHNCAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.9632	1.9722	1.9830	1.9890	1.9943	2.0034	2.0163	2.0280
GENERAL MARKET CONDITIONS
Traders will be gearing for super Thursday. We have the European central bank meeting and US June non farm payrolls. They will be taking their positions accordingly. Thursdays close can set the trend for rest of July for all metals, energies and the US dollar. As crude oil prices rise we continue to hear voices all over. The US treasury secretary says that they believe in a stronger US dollar. I wonder whether its the same rhetoric as his predecessor John Snow. Whenever John Snow had his comments on reaffirming a stronger US dollar, the dollar index would start to fall in the past. Chinese premiere Wen Jiabao urged the United States to stabilize the dollar. These comments will continue till crude oil prices rise.
Commodities including all metals and energies are rising due to lack of alternate investments in developed markets. Global hedge funds including US state run pension funds are heavily invested in commodities. Global inventories are being manipulated. Fund managers are buying metals like copper, gold, silver and platinum and storing them in private warehouses. When most of the fund managers do the same then global inventories start to fall and these metals rise. This is happening. For commodity prices to fall two conditions must be met. (A) There has to new alternate sources of investments or equity markets rise (B) Global economic uncertainty must fade. Till then commodity prices will remain firm.
SILVER -- SEPTEMBER  FUTURE
Silver targets $1930 and $2132 in July as long as $1585-$1600 zone holds on daily 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.
Nothing in this article is, or should be construed as, investment advice.

-- Posted Tuesday, 1 July 2008 | Digg This Article | Source: GoldSeek.com

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