AUG 7 THURSDAY
SHORT TERM TREND : BEARISH: TARGET RS 22840
LONG TERM TREND : BULLISH: TARGET RS 29000
S1 RS 23030, S2 RS 22860, S3 RS 22640
R1 RS 23360, R2 RS 23540, R3 RS 23760
PREFER SHORTS AT RS 23360 TO 23380
STOP LOSS RS 23540
TARGET RS 23030
On the Nymex Wednesday, September silver fell
6.7 cents to close at $16.505 an ounce.
Gold for December delivery dropped $3.10 to close at $883
an ounce on the New York Mercantile Exchange. It's trading
at the lowest level since mid June.
Crude-oil futures fell after the Energy Department reported that
crude supplies unexpectedly climbed by 1.7 million barrels to
296.9 million for the week ended August 1.
On the currency markets, the U.S. dollar maintained its firmer
tone Wednesday, buoyed against major rivals by more evidence
of deteriorating economic fundamentals in Europe and Japan, in
the wake of the U.S. Federal Reserve's decision to hold policy
steady for now.
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