VIEWS FOR 21ST OCTOBER 2008

MCX Gold (December): Break and rise above 12989/13040 could open the way for temporary bullishness towards 13196 levels.Favored view still expects resistance in the 12989/13040 zones to be capped for a fall towards 11980 levels.S1: 12650 S2:12525 R1: 12850 R2: 12945

MCX Silver December: Showing a bullish picture now. Bullish divergence followed by a rise above 17852 could result in a pullback towards 20363 now.Fall below 17224 would diminish bullish hopes.
S1:17650 S2:17300 R1:18100 R2:18450

MCX Crude Oil November : Price could hold above 3716/3742 and attempt to test next resistance levels spread between 3840 $ 3915. As the trend is still down Direct fall below 3661 would hint that the corrective rally might have exhausted sooner than expected.S1:3700 S2:3635 R1:3810 R2:3865

MCX Zinc Oct: As long as 61.2 levels resist , expect prices to move lower towards 58.2 or even lower towards 56.25-54.0 levels. Only a rise above 62.0 would negate this bearish view.
S1: 58.0 S2: 56.85 R1: 61.0 R2: 62.35

MCX Lead Oct: As long as 72.5 levels resist , expect prices to move lower towards 68.3 or even lower towards 66.0-65.0 levels.Only a rise above 73.0 would negate this bearish view.S1: 69.0 S2: 68.10 R1: 71.95 R2: 73.20

MCX Nickel Oct: As long as 537 levels resist , expect prices to move lower towards 514 or even lower towards 500-490 levels.Only a rise above 545 would negate this bearish view.S1: 518 S2: 503 R1: 550 R2: 572

MCX Natural Gas Nov: As long as 355 levels resists expect prices to move lower towards 343 or even 330 levels Rise above 361 to dent our bearish expectations. S1: 339 S2: 328 R1:360 R2: 372