Analysis

	World Financial Markets for the week of February 18th – 22nd, 2008.

The European and American stock indexes are being traded up. Except for the coming initial offering by VISA, which is going to be the largest in the history of the stock market, 19 billion dollars, no other significant events are expected to happen. VISA’s main competitor Mastercard entered the stock market about two years ago and since then its shares have increased in price fivefold.  We will talk in more detail about the commodity markets. As for gold, the price of 954 dollars per ounce remained the same in spite of the buyers’ pressure. After testing on Friday, the price of 954.10 dropped to 935 and the reset attempt on Monday failed. The price increased to only 952 dollars per ounce and after that the correction became deeper – 930 dollars per ounce. Currently the correction scenario with the goal of 920 dollars per ounce is developing in the short-term perspective. The purchases – upon the first approach to the rates of 920, 912, 901 dollars per ounce. The sales – from 952-954 with the turning stop of over 956 with the goal of 972-975 dollar per ounce. As for silver, the price is approaching 18.25 and 18.50. But the approaches to 18.20 are already accompanied by active sales.  The lower resistance is 17.60 and 17.80. In the four o’clock graphs the support of the upward trend is broken.  The correction towards the lower range of the rising channel is expected. Platinum and palladium are being traded in minus at 1% and 2.5% correspondingly. As for crude oil, the daily graphs show the rate at the upper limit of the rising range. The resistance is at 99 dollars per barrel.  The supports are at 95.50, 92.30, 91.2 dollar per barrel.  The demand raises the prices and additional support is provided through the news - the entering by the Turkish troops of the Northern Iraq.  The graph shows a “triangular” and upon its breakthrough in the nearest days we can expect a correction to lower than 96 dollars.