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Friday, August 22, 2008

UPDATES ON AUG 22 2008

AUG 22 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 20210 , S2 RS 19960

R1 RS 20640, R2 RS 20870

BUY AT RS 20320 TO 20340

STOP LOSS RS 20230

TARGET RS 20760

Silver for immediate delivery rose 0.3 percent to $13.89 an ounce.

Gold headed for its biggest weekly gain in seven years

as the dollar weakened and crude oil rose, boosting the

precious metal's appeal as a haven investment.

The dollar traded near the lowest level in more than two

weeks against the yen, and headed for its first weekly loss

versus the euro ahead of Federal Reserve Chairman Ben S.

Bernanke's speech on financial stability. The Dollar Index,

a weighted measure against the euro, yen, pound and

three other major currencies, was little changed today.





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