VIEWS FOR 10TH DECEMBER 2008

MCX Gold Feb:Continues to consolidate with a mild bullish bias.Resistance in the 12502-12540 zone quite strong could even extend to 12610 as long as 12110 holds. S1: 12272 S2: 12185 R1: 12395 R2: 12470

MCX Silver Mar: Resistance is at 17250 followed by 17620 now. Big picture structures favor a downside still and expect resistances to cap for a decline towards 15832. Direct rise above 17860 to cast doubts on our bearish view. S1:16720 S2:16380 R1:17072 R2:17246

MCX Crude Oil Dec: Supports are at 2040/2045 levels now. Ideally, a consolidation between 2045 to 2193 to continue and then breakout higher towards 2370 or even higher. This is the favored expectation. Failure to hold support at 2020-2045 zones to take prices lower towards 1873. S1: 2095 S2: 2035 R1: 2175 R2:2210

MCX Copper February: A messy consolidation in progress. Supports are at 160 followed by 157 now. We favor supports to hold for a test of 185 or even higher. Direct fall below 153 to accelerate the fall towards 126.S1: 160 S2: 157 R1: 167 R2:170

MCX Zinc Dec: - As long as 54.0-54.25 levels support , expect prices to move higher towards 56.8-57.25 levels . However a fall below 54.00 would negate this bullish view. S1: 54.15 S2: 53.50 R1: 55.90 R2: 57.20

MCX Lead Dec: As long as 48.0-48.15 levels support , expect prices to move higher towards 50.5-50.75 levels . However a fall below 48.00 would negate this bullish view. S1: 48.00 S2: 47.00 R1: 50.10 R2: 51.70

MCX Natural Gas Dec :- As long as 273.0-269.0 levels support , expect prices to move higher towards 284-290 levels . However a fall below 268 would negate this bullish view. S1: 267 S2: 260 R1: 283 R2: 290

MCX Nickel Dec: As long as 452.0-447.0 levels support , expect prices to move higher towards 475.0-487.0 levels . However a fall below 447.00 would negate this bullish view. S1: 447 S2: 420 R1:472 R2: 485