Monday, September 15, 2008

VIEW FOR THE WEEK FROM 15.09.2008 TO 21.09.2008

MCX Silver futures prices closed higher on Saturday. Support
will be seen at 17999, a break below could see a test of
17752. Resistance is now likely to be seen at 18342 a move
above could see prices testing 18605.
Trading Call :- Structure is bearish for a test of fractal support at 19228.rise above 20050 to hint at stronger recovery towards 20662/20725.Rise above 20804 could indicate a bullish reversal.
Support: 19360, (19200 bearish), 19060, 18900.
Resistance: 19660, 19810, (19960 bullish), 20100.

MCX Crude-oil futures closed higher on Saturday. Support
will be seen at 4580, a break below could see a test of
4542. Resistance is now likely 4645, a break above that
could test 4690 levels.
Trading Call: Dips could be held above 4518 or maximum 4493 for a test of 4575 levels again.
This looks like the more probable scenario. It needs to rise past 4610 to hint at a stronger
correction. Fall below 4480 would be a bearish sign hinting at further decline towards 4407 or
4344.
Support: 4580, (4542 bearish), 4500, 4450.
Resistance: 4645, (4690 bullish), 4725, 4762.

MCX Gold prices closed higher on Saturday. Support will be
seen at 11400, a break below could see a test of 11365.
Resistance is now likely to be seen at 11465, a move above
could see prices testing 11508 levels.
Trading Call: As expected, a strong pullback is in place. Can edge higher towards 11785-11815
levels now or even higher towards 11889 levels. Positive divergences also gives rise for a possible
test of 12409. Supports are at 11400 levels.
Support: 11400, (11365 bearish), 11324, and 11287
Resistance: 11465, 11508, (11542 bullish), 11593.

MCX Copper futures closed higher on Saturday. Immediate support
will be seen at 320, a break below could see a test of 317.5
levels. Resistance is now likely to be seen at 324.70 a move
above could see prices testing 326.50.
Trading Call: - Consolidation in the 317-325 range to be followed by a rise higher towards 333
or even higher towards 343 levels.
Support: 320, (317.50 bearish), 314.60, 312.00.
Resistance: 324.70, 326.50, (328.60 bullish), 331.20.

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