COMMODITY :: VIEWS FOR 4th DECEMBER 2008

MCX Gold Feb: Rallies to 12630/12650 to find resistance for a fall lower towards 12360/12380, break below 12360 will be a bearish sign and prices could test 12230/12250 levels. Break above 12700 would negate this bearish view. S1: 12360 S2: 12250 R1: 12620 R2: 12700

MCX Silver Mar: Favored view expects a fall towards 15800/15850 as long as 16950/17000 caps. However, a direct rise above 17020 to postpone the bearishness. S1:16450 S2:16100 R1:16850 R2:17000

MCX Copper February: Important resistance is at 184/85 now. Chances of a pullback or a turnaround is likely above 186. However, further downside towards 170/171 while below 184/85. S1: 180 S2: 172.50 R1: 188 R2:194.50

MCX Crude Oil Dec: Prices could fall towards 2320/2340 initially. Then any rallies to 2380/2400 could find resistance for a fall lower towards 2240/2260, break above 2430 would negate this bearish view. S1: 2320 S2: 2250 R1: 2430 R2:2480

MCX Zinc Dec: - Expect corrective rallies to 58.9/59.20 to find resistance for a fall lower towards 55.30/55.50 levels. Break above 60.25 would negate this bearish view. S1: 56.70 S2: 55.50 R1: 58.90 R2: 60.25

MCX Lead Dec: Any rallies to 52.30/52.60 could find resistance for a fall lower towards 48.50/48 levels. Break above 54.40 would negate this bearish view. S1: 49.10 S2: 48.10 R1: 52.30 R2: 54.50

MCX Nickel Dec: Rallies to 479/485 could find resistance for fall lower toward 450/445, break above 493 would negate bearish view. S1:455 S2:440 R1:479 R2:495

MCX NaturalGas Dec As long as 325/326 resist expect move lower toward 306/308, break above 328 would negate this bearish view. S1:308 S2:300 R1:325 R2:333