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Wednesday, August 20, 2008

UPDATES ON AUG 20 2008

AUG 20 WEDNESDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 19940, S2 RS 19270

R1 RS 20260 , R2 RS 20540

STAY LONG FOR INTRADAY AT SUPPORT.

Silver edged up to$13.36/13.42 an ounce from $13.15/13.21

late in New York.

Gold rose to its highest inalmost a week on Wednesday after

gains in oil prices spurredbuying, which also helped to pluck

cash platinum from itslowest level in nearly a year.

Oil prices rose about 1.5 percent on Tuesday as part of a

broad commodities rebound triggered by weakness in

the U.S.dollar.

The most active Tokyo gold contract for June 2009 delivery

on the Tokyo Commodity Exchange ended the morning

session 101 yen per gram higher at 2,897 yen, having fallen to

its weakest since late November in previous session.

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