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September 16th, 2008, 11:57 pm | By One Financial | Published in Daily Technical | Comments on this postComments Off

The following are forecasts for Monday’s trading session. They may, at times, be at odds with the three-day and weekly trends in the tables below.

Weekly chart ICE Brent crude trend: Bearish.

Intraday ICE Brent crude: November futures continue to free fall, and might retest $89.80 a barrel minor support, Tuesday’s intraday low, a fall through which will have $88.78, the Feb. 8 low, in sight. Minor resistance lurks around $92.83, late January’s high, and $93.50. Further resistance comes in at $94.52, the Feb. 11 high.

Weekly chart ICE Brent crude trend: Bearish.

Weekly chart Nymex light sweet crude trend: Bearish.

Intraday Nymex light sweet crude: October futures have dropped to a seven month low and near $91.50 a barrel minor support. Below this sits support at $90.64, late January’s peak. Minor resistance is seen around $94.00, Monday’s low, and at $94.32, Tuesday’s intraday high. Further resistance comes in around $95.00.

Weekly chart Nymex light sweet crude trend: Bearish.

Weekly chart Comex gold trend: Bearish.

Comex gold: December gold futures are heading lower again, and target $770.5 a troy ounce minor support, Friday’s high. Further support is found around $766.8, and at $762, the Sept. 11 peak. Minor resistance is embedded around $789.5, and Tuesday morning’s $791.4 electronic Access session high.

Weekly chart Comex gold trend: Bearish.

Weekly chart Comex gold trend: Bearish.

Intraday Comex silver: December silver futures remain bearish and near $10.65 a troy ounce, the October 2006 low. Further down, $10.42, Monday’s low, and $10.31, last week’s low, might also be reached in the next 48 hours. Minor resistance stands at $11.19, Tuesday’s intraday high, and comes in at Monday’s $10.25 peak.

Weekly chart Comex silver trend: Bearish.

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One Financial Content provided by One Financial (onecfd.com) Disclaimer: The information given in this message is provided on an information-only basis for marketing purposes and may not be construed as constituting the making of any recommendation or giving of advice on the part of One Financial. This information has not been prepared in accordance with any legal requirement to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This information may have been prepared by firms other than One Financial and One Financial may not be held responsible for the accuracy or otherwise of its contents.

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