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Friday, October 20, 2006

Precious Metals Update

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The November Crude Oil is little lower today and Dollar is in Strength today.
However we should not let Gold go below 592/3. Or we would come in to Bearish tone again.
At the moment Gold is stuck in a tight range of 593 - 602, Which its having hard time to cross 602.50 levels, Where Heavy resistance is being lied.
It tried today, but failed.
And NK news today also pushed it slightly downwards.
We arent seeing a heavy push down, Or any sign of Weakness, or else, we would be already below 590. So things are balancing out here.
Some Profit taking, Some reacting over the news, And on other hand we are seeing Physical Demand sky rocking, with Various Islamic, and Other religious festivals coming up.

So Overall things are Balanced up..
Dont guess the Market.
Keep Good Stops over your long Positions.
Never Panick.. And If u lose the Opportunity, dont think to fight back with the market, Make a Plan, Study a little, And go for it.
Any Questions, feel free to Email, one of our Analysis team will be happy to Answer you.

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