Tuesday, November 4, 2008

VIEWS FOR 4th NOVEMBER 2008

MCX Gold (December): As long as 11794/11825 caps the upside expect prices to fall lower towards 11284 followed by 11076, break above 11857 would negate this bearish view.
S1: 11550 S2:11485 R1: 11700 R2: 11775.

MCX Silver December: Expect prices to find support at 16224/16139 for a move higher towards 17328 followed by 18008, break below 15595 would negate this bullish view.S1:16500 S2:16210 R1:17100 R2:17400

MCX Crude Oil November: Resistance near 3170 or maximum 3213 could cap advances for next decline towards 3048/3023.It needs to rise above 3245 to change this bearish view.
S1: 3100 S2: 3045 R1:3200 R2:3270

MCX Copper November: - As long as 195.5 holds support expect a move higher towards 220/227, break below 193 would negate this bullish view.S1: 198 2: 193 R1: 208 R2:214

MCX Zinc Nov :- Important support at 55.5 levels , as long as this level holds support , prices could move higher towards resistance levels at 58.75 .A rise above 58.80 is needed for a higher move. A fall below 54.8 would be bearish. S1: 56.45 S2: 55.15 R1: 58.95 R2: 60.15

MCX Lead Nov: Expect supports at 71.3 levels to hold support for prices to move higher towards resistance at 76.0-77.0 levels .Fall below 70.0 would be considered bearish.S1: 71.35 S2: 70.0 R1: 73.85 R2: 75.0

MCX Nickel Nov: Expect 575 levels to support prices for a move higher towards 615 levels. A fall below 570 would cast a doubt on this bullish view and would take prices lower.S1: 560 S2: 545 R1: 598 R2: 625

MCX Natural Gas Nov: Expect 318-312 levels to support prices for a move higher towards 330-345 range.Only a fall below 310 would be considered bearish now.S1: 315 S2: 308 R1: 333 R2: 342

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