Daily Precious Metals, Base Metals And Energy Newsletter

NEWSLETTER FOR 15TH NOV 2007
REVIEW
Gold rose for the first time in four sessions after a drop in the dollar boosted the appeal of the precious metal as an alternative investment. Silver also climbed.

Technical Review For Gold

Gold traded exactly for reversal pattern after adoji on chart yesterday indicating reversal followed it through a white candle making three day candle pattern of morning doji star this is very strong reversal of correction and can take big way up again.

Confirming this will be today’s move if breaks above 10 day moving average at 816 and also trade and close above 822$will add strength to trend if trades below 805$the reversal can be treated as nullified and further down side will set in chances are bleak.

Buy gold 814$stoploss 807$tgt 826$ 834$

Technical Review For Silver
Silver which was weak yesterday showed huge strength in lower prices squeezing supply and bouncing thick and fast and not breaking previous day low sets in act of recovery and can cross yesterdays highs can push to new rally.

Silver also formed same morning doji star pattern as gold its hurdles are 15.05 a10 day moving average point and later 15.18 the ressistance point if can clear it can test recent high again.

Buy silver 15.05$ stop loss 14.75$tgt tgt 15.45$ 15.95$

Technical Review For Copper
Copper completely turned from abc correction and reversed from bottom which we had identified yesterday it self tsunami warning forced mines to shut at Chile added fuel to this it just crossed a good resistance point to put counter trend rally till 3.45$ is possibility as it has managed to close above 10 day moving average also r.s.i indicates oversold character

Buy copper 278 stop loss 271 tgt 284, 288

Technical Review For Crude Oil
Crude oil sell of was short lived corrective sell as it formed abeautifull reversal from down under on news of opec sec saying there is sufficient inventory no need of increase in production out put also expectation of reduction in inventory further today fuelled buying left bears un founded it can just flare further if closes above 95.1$

Buy crude Dec at 3650 stop loss 3620 tgt 3700

NEWSLETTER FOR 16TH NOV

Gold silver resume down trend

Copper rally fizzles out

Crude inventory increases

EIA-U.S. WEEKLY CRUDE STOCKS UP 2.8 MLN BBLS TO 314.7 MLN, VS FORECAST OF .8 MLN BBL DRAW

GASOLINE STOCKS UP 700,000 BBLS TO 195.0 MLN, VS FORECAST OF 0 MLN BBL BUILD

DISTILLATE STOCKS OFF 2.0 MLN BBLS TO 133.4 MLN, VS FORECAST OF .1 MLN BBL DRAW



Dollar gains against euro, yen resumes to rally

Job less claims increase

U.S. OCT CPI +0.3 PCT (+0.2933; CONSENSUS +0.3), EXFOOD/ENERGY +0.2 PCT (+0.1587;CONS +0.2 PCT)

U.S. OCT CPI YEAR-OVER-YEAR +3.5 PCT (CONS +3.5 PCT), EXFOOD/ENERGY +2.2 PCT (CONS +2.2 PCT)



REVIEW



Gold failed to consolidate gains it had made previous session hit a new low for the week on rallying yen initiating yen carry trade











Technical view

Gold failed to hold key reversal pattern that was morning star pattern in chart aborting it exactly after kissing 10-day moving avg resumed weak trend with macd gap further widening also r.s .i breaking down, momentum showing down bias next key support is at 776.7$ any way weekly close today holds very crucial for trend next heading for 740$ it seems





Sell gold 794$stoploss 798$tgt 782$



Silver also fell in from its highs ac the reversal proved corrective with posting same highs for last 2 days showed fatigue there never able to cross first hurdle 10day moving average tripped there seems heading for 100 day moving avg again at 13.35$



Sell silver 14.55$stoploss 14.9$tgt 14.1$





Copper sold completely on clarification that earth quake has not disturbed production in Chile as all other factors were negative first of all froze many times in lower circuit next tgt is 252



Sell copper 270 stop loss 277 tgt 260

Crude oil sell of was short lived corrective sell as it formed beautiful reversal from down under on news of opec sec saying there is sufficient inventory no need of increase in production out put also expectation of reduction in inventory

Stocks were more in toady’s data but supply disruption from Nigeria holds key

Option 1 sell near 94.5 $stop loss 95.1$tgt 92.5

Option 2 buy above 95.1 stop loss 994.4$ tgt 96.55

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