-- Posted Wednesday, 11 February 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
US $ 2 trillion rescue package
Treasury Secretary Timothy Geithner pledged government financing for as much as $2 trillion of efforts to spur new lending and address banks’ toxic assets, seeking to end the credit crunch hobbling the economy. Unveiling the widely anticipated financial rescue plan, Mr Geithner emphasised that the plan aimed to “leverage and mobilise private capital” – with government funds used only as a last resort.
TECHNICAL VIEW
COMEX GOLD APRIL
There are two situations in gold at the moment.
Situation 1
Gold holds $888: A double bottom has been formed at $888 which suggest that if gold holds $888 then it will try to break $933 and $972. (Double bottom has been formed at $888)
Situation 2
Gold fails to break $933 this week: if gold fails to break $933 this week then it will fall to $869 and below.
Intra day gold is bullish over $902.
DISCLOSURE: NO POSITIONS
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 employeeshave 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 Wednesday, 11 February 2009 | Digg This Article | Source: GoldSeek.com
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