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Tuesday, August 08, 2006

Asia Market making Harsh Moves - Illiquid utmost currently

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In Asia Market,
After the Opening there was a STOP LOSS Frenzy going on, in EUR/USD , USD/JPY as the players in the market got stopped out.
Given that there was no rate hike and following the dovish statement from the FED these guys were quite short.
The Early Asian market illiquid at the best of time and moves were harsh, Which brought the prices way down for Gold as well.

Currently Gold has come to around 636 level range. Were its Total Over Sold Area.

Right now Market is Opening the GAP for a Push Higher, We see a Technical Correction being undertaken, for a GAP to open for gold and Silver to push High.

Due to few days, GAP has been tight.

We certainly feel, Gold shouldnt go Any more down 630 level, At current levels 635 market is TOTAL OVER SOLD.
And we expect a New Buying Opportunity to come in, for Strong Base and push Upwards.

We shall Advice further.

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