Dear Members

Tuesday till now market enjoys stepwise gain in Wall Street last night. Shanghai drop little on profit taking while Asian and Australian markets were mixed, Hongkong advanced, India bullish but auto makers take profit on increased interest rate by central bank, Europe advance on Money Supply report, overall economic indicators for Europe is good these days. Money Supply report was crucial which comes positive hence Euro Zone gains get stamped. Europe is positive now hence buying appeal on Gold has decreased. Last few months Greece and Portuagual issue gave boost to Gold prices and Copper prices down to Feb low and consolidating on respective prices on both items. Dow Jones has advanced and crossed 10500 points this figure gave strong support for 10000 sentiment level and now testing ahead for lost ground of 11000 points however for US stocks to remain positive S&P 500 index is still crucial. Obviously S&P 500 index reserves from its lower point of 1045 however technically it is still fragile. So far S&P supported market is positive.

We believe Gold on long term for October Contract is still bearish. Bearish gold and positive stocks will lift copper price stable, another vital component is OIL price which is not able to increase as expected.

Today European indicators are positive, the market driver for today is the consumer confidence of US  report at 7:45 pm to night. Positive report will make good for OIL and Copper .Negative report will be more profit taking.

Regards
DFT Support Team