-- Posted Tuesday, 5 May 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Silver looks more bullish than gold, but toddy’s close is very crucial for it. A close over $1330 will result in retest of 2009 high of $1457 this week itself. The sustained rise in global equities and the positive outlook on the global economy should result in greater investment interest in silver with passing of each week. Short term traders still need to approach silver with caution but long term investors need not worry.
Some of the profits from equities are being diverted into gold. This has resulted in prices remaining firm. The technical breakout has also supported gold at higher prices. At the moment gold has room for gains.
TECHNICAL VIEW
NYMEX CRUDE OIL (1ST CONTRACT)
Crude oil targets $56.60 and $59 in the short term as long as $50 holds. We prefer a buy on dips strategy as long as $52 holds for the day.
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 Tuesday, 5 May 2009 | Digg This Article | Source: GoldSeek.com
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