VIEWS FOR 12TH DECEMBER 2008

MCX Gold Feb: A corrective dip towards 12565 12457 regions is anticipated. Ideally next upturn in this support region should carry it towards the next projected objective at 13060/13074. This is the favored scenario. Fall below 12442 could cause some doubts about this view as such a dip could pull it down further towards next support at 12365.S1: 12735 S2: 12650 R1: 12900 R2: 13005

MCX Silver Mar: Corrective dips to 16710/16628 could find support for a move higher towards 17698/17780, break below 16331 would negate this bullish view. S1:17000 S2:16800 R1:17250 R2:17550

MCX Copper February: Prices are moving in a broad range of 155.55 and 170.0, break of the range will decide the direction.S1: 162 S2: 157 R1: 171 R2:176

MCX Crude Oil Dec : Favoured view expects that supports near 2240/2230 could be tested before next rally towards 2400/2424.Unexpected dip below 2218 would hint at weakness. Next supports are around 2203 ; 2146.S1: 2285 S2: 2225 R1: 2375 R2:2450

MCX Lead Dec: A break of the range 48.50-51.0 would decide the next directive move.S1: 49.10 S2: 48.50 R1: 51.10 R2: 52.70

MCX Nickel Dec: Expect prices to find resistance at 550 levels for a move lower towards 500 levels.A rise above 551 to cast doubt about this view.S1: 512 S2: 488 R1:540 R2: 555

MCX Natural Gas Dec :- As long as 266.0-262.0 levels support , expect prices to move higher towards 284-290 levels .However a fall below 260 would negate this bullish view.S1: 267 S2: 260 R1: 283 R2: 2

MCX Zinc Dec: - As long as 54.75-55.0 levels resist , expect prices to move lower towards 51.0-49.5 levels .A rise above 55.0 to negate this bearish view.S1: 52.5 S2: 51.50 R1: 54.20 R2: 55.20

ALERT: GOLDspot: Intraday bias to be negative as long as 820 holds.805 Is a buying support. Sup below at 787/778 (last). Bullish again only above 830.Watchout for Comex Expiry(Dec29) related long liquidation 12.12.2008 :