Wednesday, October 22, 2008

safe trade calls

GOLD

PRICE TURN ALMOST FRO OUR GIVEN RESISTANCE=12760 AS DAYS HIGH=12748. Continue to view, as long Resistance of 12750 & 12850, down trend likely to continue. book profit on sell below 12570, for the day sell below 12300 S/L 12340 and T/p 12240-200/towards 12050 in coming days OR sell ard 12535-545 S/L 12555 and T/p 12490-460/ (any time close above 12850/13600/14325 bullish while close below 12300/11775/ 11250 bearish for medium term)


SILVER

Now as long Resist 17750, down trend likely to continue. for the day sell below 17500 S/L 17575 and T/p 17390-400/ 17250/17150/sustain below towards 16900 OR buy only abv 17575 S/L 17475 and T/p 17700-800 (any time close below 16850 bearish rally while close above 19000/20550/21400/22150/ 25250/26350/27475/28000 bullish for medium term)

CRUDE

Crude oil Inventory schedule to release today. Now as long Resist 3740-3770, down trend likely to continue. for the day sell below 3535 S/L 3560 and T/p 3490-3500/towards 3440/sustain close below 3440 test 3280-3300 atleast in coming days OR sell ard 3665-70 S/L 3675 and T/p 3635-3610 (now crude need to close above 3765/4120/4400/ 4800/5000/5290 for bullish rally while close below 3440 bearish for medium term)


COPPER

Continue to view as long Resistance of 238 & 248 down trend likely to continue. book profit on sell below 238/234.5, for the day sell below 224 S/L 226.5 and T/p 220-21 towards 215 OR sell ard 236-236.5 S/L 237 and T/p 232.2-231(upside strong rally only on close above 248/270/305/316/327/339/351.25/ 360.5/387/398 while close below 224 bearish for medium term)


MCXARUN
9994500540

GENERAL MARKET CONDITIONS

Are base metals worth investing for a long time?

Most of the base metals have fallen over thirty percent over the year. Aluminum has fallen least while nickel has fallen the most among the base metals. Even the invincible copper has crashed in the past two months. Base metals and industrials are dependent on global economic growth, particularly China. 2008 Chinese GPP growth is expected to be the slowest in the past five years to 9.50%. China has been the biggest consumer of base metals. If there is further evidence of a slowdown in Chinese growth in the rest of 2008 then base metals can get further hammering.

The current bear phase in base metals is a part and parcel of a long term bull rally which may last for two to three quarters. Value based buying at lower levels and restocking by end users will ensure that the long term Bull Run continues. The clear picture will emerge only at the beginning of the 2009.

In the short term for base metals to rise the following conditions need to be fulfilled:

* Equity markets rally.
* Liquidity conditions improve.
* Most of the base metals are highly oversold. So a technical bounce can happen anytime while maintaining the bear trend.
* Chinese demand improves. Unless Chinese improves the rallies in base metals will be fake.
* Outlook for 2009 global growth stabilizes.

Silver has risen on a rise in physical demand while gold and energies fell on US dollar gains. Various central banks are taking further steps to calm the negative investor sentiment. There is lack of major market moving news today except for the US weekly crude oil inventories. The US dollar has been gaining on expectations that other central banks will cut interest rates faster than US. This trend may continue for a few more weeks.

COMEX COPPER DECEMBER

Copper needs to hold $195 to prevent a fall to $173. Highly oversold conditions exist. On the higher side copper needs to break $228 to find intra day buyers.


MCXARUN
9994500540

important news

see our important charts for long term. that we post on 20.10.08.
our first target hit, market nearly in second target in gold.

use the valuable tips and get profit

http://tradeinmetals.blogspot.com/2008/10/important-charts_20.html

MCXARUN
9994500540