Iomega Corporation

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Tuesday, December 05, 2006

Market Update

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Gold/Silver pushing downward, due to Slight USD strength today, after the release of ISM Non Manufacturing data, which indeed was a suprise, Market is slight shaky for the moment.
However, Gold Is Mantaining its Strength, and Technically looks wonderful, gaining much support to push higher, Gold Shall Hold nicely at 640 level, if broken, we shall eye for 631/2 and 637/638 levels and a Swift Bounce upwards, making a 3rd new Bullish Wave.
With Crude Oil Inventories realising tommorrow, we shall see gradual push upwards for Precious Metals in relation to Crude Oil.
USD/JPY nears our target 114 levels reaching around 114.45 levels, it shall meet 114 very soon.
EUR/USD its better to trade in a safe tone, with Traders eyes for ECB rate decision on THURSDAY, and Next week for FED.

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