-- Posted Friday, 3 April 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Yesterday safe havens fell after the G20 meeting announced the $1 trillion package for the global economy. This resulted in investors switching away from gold and other safe havens to equities. The surprise European central bank interest rate cut failed to dent the euro. Base metals and energies rose on a positive global economy outlook. US March non farm payrolls have the potential of reversing the direction in equities and commodities. At higher prices technical factors will come into play.
TECHNICAL VIEW
COMEX COPPER MAY
A consolidated break of $192 will result in $203 and $226 in the short term.
NYMEX CRUDE OIL (1ST CONTRACT)
Crude oil now needs to break $56 to target $60+. Sellers will be there today only if crude oil falls below $48.
DISCLOSURE: NO POSITIONS
THIS IS JUST AN EXCERPT OF THE DAILY 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 Friday, 3 April 2009 | Digg This Article | Source: GoldSeek.com
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