-- Posted Monday, 26 July 2010 | Digg This Article
| | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Intra day
The European stress test has been positive for the euro and stock markets and there is a possibility the euro could have bottomed out in the medium term. Technically all commodities are bullish and can rise further.
COMEX TECHNICAL VIEW
COMEX GOLD AUGUST
Bullish over $1188 with $1204 and $1216 as price target
Bearish below $1184 with $1179 and $1169 as price target
Neutral Zone between $1184-$1188
100 day MA has risen to $1180.30 and as long as the same holds gold will rise to $1209 and $1216 in short term.
COMEX SILVER SEPTEMBER
Bullish over $1804 with $1840 and $1880 as price target
Bearish below $1782 with 1764 and $1748 as price target
Neutral Zone between $1782-$1800
100 day MA around $1804 is the key support and as long as silver trades over $1805 it will rise to $1845-$1854
COMEX COPPER SEPTEMBER
Bullish over $313.00 with $323 and $331 as price target
Bearish below $309 with $303 and $300 as price target
Neutral Zone between: $309-$313
A close over $320 today and tomorrow can result in $340.30 in short term.
NYMEX CRUDE OIL (1ST CONTRACT)
Bullish over $78.50 with $80.20 and $82.20 as price target
Bearish below $77.20 with $75.40 and $73.50 as price target.
Needs to float over $78.50 for $82.20 and $87.
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
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-- Posted Monday, 26 July 2010 | Digg This Article | Source: GoldSeek.com
