-- Posted Tuesday, 18 November 2008 | Digg This Article
| Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
The focus of the markets at the moment is when the current economic crisis will start to ease. Companies are still slashing jobs and recession still looms at large. Base metals are trading with a softer bias while gold and silver are steady. Traders are not eager to either go too short or too long and this has resulted in wider range consolidation phase for commodities. Next week gold, silver and copper futures are expiring. In my view there are more longs in these metals than shorts which will either be rolled over or squared off. Spreads will be very volatile till next week.
INTRA DAY TRADING STRATEGY.
JOBBERS
Gold Dec: Buy if it breaks n holds $744 for $749 and $735 and sell only on a consolidated fall below $735 for $726.80 and $719.10
Silver Dec: A sell on rise strategy till silver does not break n hold $965. Buy only on a consolidated rise over $965.
Copper Dec: A sell on rise strategy till copper does not break $172.
Crude oil (1st contract): Buy only on dips as long s $54.80 holds.
NOTE: Use appropriate stop losses on trading.
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 Tuesday, 18 November 2008 | Digg This Article | Source: GoldSeek.com
