-- Posted Friday, 26 December 2008 | Digg This Article
| Source: GoldSeek.com
MERRY CHRISTMAS TO ALL THE READERS
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
UK markets are closed. Trading volumes will be negligible. It will be a technical trade. Technically gold is in a neutral zone while silver and copper look weak. Crude oil is in a neutral zone.
GOLD | SILVER |
COMEX GOLD FEBRUARY FUTURE -- $849.0 | COMEX SILVER -- MARCH FUTURE -- $1041.0 |
| Lower | Expected | Higher | | Lower | Expected | Higher |
BUY | 812.00 | 839.00 | 861.00 | BUY | 978.00 | 1020.00 | 1082.00 |
SELL | 827.00 | 858.00 | 883.00 | SELL | 1002.00 | 1076.00 | 1135.00 |
GOLD FEBRUARY 09 TECHNICAL LEVELS |
SUPPORT | RESISTANCE |
| S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$796.00 | $808.00 | $821.10 | $839.60 | $856.00 | $865.00 | $886.00 | $902.00 |
SILVER MARCH 09 TECHNICAL LEVELS |
SUPPORT | RESISTANCE |
S1 | S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$956.00 | $988.00 | $1,001.00 | $1,024.00 | $1,056.00 | $1,078.00 | $1,096.00 | $1,135.00 |
COPPER MARCH 09 TECHNICAL LEVELS |
SUPPORT | RESISTANCE |
S1 | S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$117.00 | $118.60 | $124.90 | $129.80 | $132.80 | $137.60 | $145.00 | $149.00 |
CRUDE OIL |
SUPPORT | RESISTANCE |
S1 | S2 | S3 | S4 | R1 | R2 | R3 | R4 |
$31.00 | $33.00 | $34.20 | $35.80 | $36.70 | $37.80 | $40.30 | $43.30 |
INTRA DAY TRADING STRATEGY.
JOBBERS
Gold Feb: Sell around $854 or over $865 stop loss $6 per trade.
Silver March: Sell around $1075 and $1108 stop loss $15 per trade.
Copper March: A sell on rise strategy till $137 is not broken.
Crude oil (1st contract): Buy around $35.00 with a stop loss below $32
DAY TRADERS
Gold Feb: Buy as near to $839 stop loss below $834 OR Sell below $829 for $819 and $808 use stop loss $5 per trade.
Silver March: Buy on dips as long as $1020 holds and sell below $1020 use stop loss $10-$15 per trade.
Copper March: Buy on dips as long as $127 holds.
Crude oil (1st contract): Sell on rise strategy till $39 is not broken.
TECHNICAL VIEW
COMEX GOLD FEBRUARY
Gold needs to fall below $830 or break $865 for direction till then it will trade in a wider $35 range. A break of $865 will result in $885-$900 zone while a fall below $830 will result in $819 and $808.
COMEX SILVER MARCH
Silver needs to hold $1020 else it will fall to $998 and $965. On the higher side $1085 is the key intra day resistance.
COMEX COPPER MARCH
Copper will find sellers on a rise till $137-$142 zone is not convincingly broken.
NYMEX CRUDE OIL (1ST CONTRACT)
Crude oil can fall to $30 in the short term as it remains below $49. Intra day crude oil is bearish below $39.00.
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 Friday, 26 December 2008 | Digg This Article | Source: GoldSeek.com
