-- Posted Thursday, 16 October 2008 | Digg This Article | Source: GoldSeek.com

GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR

Global equity markets slipped once again. The fall in equities resulted in base metals and energies also falling. Expectations that the world will move towards a prolonged recession has resulted in yesterdays fall. Investors are scared and they expect immediate results which is not possible at the moment. The second round effects of the current drag in stock markets is being felt by the markets, but economic statistics will be known only in December or January due to delay in data releases.

NYMEX CRUDE OIL (1^ST CONTRACT)

Crude oil medium term support is at $60, if crude oil fails to break $88 for the rest of October then it will fall to $60 and below in October.

This is just an except of the main report.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities 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.Prepared By Chintan Karnani. Website www.insigniaconsultants.in

-- Posted Thursday, 16 October 2008 | Digg This Article | Source: GoldSeek.com

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