VIEWS FOR 17.09.2008

MCX CRUDE :: Prices could attempt 4463 / 4473. It has to push above 4480 to stay bullish for
further advance towards 4517 or even 4555. Supports are at 4380 & 4330. Fall below 4320 is
needed to revive scope for further declines. Short-term view is bullish. The big picture is bearish
for a fall towards minimum 4102 and this rally would be treated as a corrective rally. Rise above
4592 could cause doubts about the bearish view.
Support: 4250, (4208 bearish), 4180, 4136.
Resistance: 4317, (4360 bullish), 4404, 4440.

MCX GOLD :: As long as 11871 / 11900 resist expect a move lower towards 11485 followed by
11405, however break above 11905 could see 11975 followed by 12020 levels.
Support: 11704, (11675 bearish), 11635, and 11585.
Resistance: 11790, 11828, (11865 bullish), 11907.

MCX SILVER :: As long as 18505 / 18585 resist expect a fall lower towards 17110 followed by 16605, however break above 18870 would negate this bearish view.
Support: 17790, (17660 bearish), 17450, 17210.
Resistance: 17999, 18160, (18375 bullish), 18605.

MCX COPPER :: Expect any corrective rallies to find resistance in the region of 324.70 / 326.80
for a lower towards 308.40 followed by 303 levels, however break above 331 would turn the
picture bullish.
Support: 314.50, (311.85 bearish), 309.95, 307.70.
Resistance: 319.65, 322, (324.80 bullish), 326.70.

VIEW FOR 16.09.2008

MCX Gold (October): Should consolidate in the range between 11460 and 11710 levels and rise higher towards 11780 or even higher towards 12004. This is the favored expectation. Fall below 11337 could dent our bullish expectations.S1: 11617 S2:11578 R1:11701 R2: 11748

MCX Silver December: Extremely volatile and showing bearish signs now. View unclear and suggest to be on the sidelines. Possible range is 17420 and 18600. S1: 18125, S2: 17890, R1: 18375, R2: 18605

MCX Crude Oil October: Projected downside targets are at 4260 & 4180. A bullish reaction towards 4320 / 4330 is favoured from the downside target area If it does not occur at 4260 or maximum 4180 and price keeps falling below 4160 then it would go for 4045. Resistance levels are at 4300 & 4320. Rise above 4330 is needed to indicate some corrective action.

MCX Copper November: Bearish now. Move below 308 could trigger a sell-off towards 285 levels now. Resistance is at 319.75 / 321 levels now. S1: 315 S2: 312 R1: 319.75 R2: 322

MCX Zinc Sept: AS long as 82.5-84.0 levels resist , expect prices to fall towards 79.5-78.0 levels. However a rise above 84.7 would cast doubts on this bearish view. S1: 80.2 S2: 79.0 R1: 82.5 R2: 84.0

MCX Lead Sept: AS long as 86.5-88.0 levels resist , expect prices to fall towards 83.5-81.0 levels. However rise above 88.5 would cast doubts on this bearish view. S1: 84.0 S2: 82.7 R1: 86.7 R2: 88.0

MCX Nickel Sept: Prices expected to find strong resistance in the 860-872 zone to move lower towards the 830 region.However a direct rise above 876 would cast doubts on this bearish view.S1: 832 S2: 820 R1: 858 R2: 870

MCX Natural Gas Sept: As long as 335-342 levels hold support, expect prices to move higher towards resistance levels which lie in the 365 region. A fall below 333 would negate this bullish view.S1: 337 S:326 R1:361 R2: 368

VIEW FOR THE WEEK FROM 15.09.2008 TO 21.09.2008

MCX Silver futures prices closed higher on Saturday. Support
will be seen at 17999, a break below could see a test of
17752. Resistance is now likely to be seen at 18342 a move
above could see prices testing 18605.
Trading Call :- Structure is bearish for a test of fractal support at 19228.rise above 20050 to hint at stronger recovery towards 20662/20725.Rise above 20804 could indicate a bullish reversal.
Support: 19360, (19200 bearish), 19060, 18900.
Resistance: 19660, 19810, (19960 bullish), 20100.

MCX Crude-oil futures closed higher on Saturday. Support
will be seen at 4580, a break below could see a test of
4542. Resistance is now likely 4645, a break above that
could test 4690 levels.
Trading Call: Dips could be held above 4518 or maximum 4493 for a test of 4575 levels again.
This looks like the more probable scenario. It needs to rise past 4610 to hint at a stronger
correction. Fall below 4480 would be a bearish sign hinting at further decline towards 4407 or
4344.
Support: 4580, (4542 bearish), 4500, 4450.
Resistance: 4645, (4690 bullish), 4725, 4762.

MCX Gold prices closed higher on Saturday. Support will be
seen at 11400, a break below could see a test of 11365.
Resistance is now likely to be seen at 11465, a move above
could see prices testing 11508 levels.
Trading Call: As expected, a strong pullback is in place. Can edge higher towards 11785-11815
levels now or even higher towards 11889 levels. Positive divergences also gives rise for a possible
test of 12409. Supports are at 11400 levels.
Support: 11400, (11365 bearish), 11324, and 11287
Resistance: 11465, 11508, (11542 bullish), 11593.

MCX Copper futures closed higher on Saturday. Immediate support
will be seen at 320, a break below could see a test of 317.5
levels. Resistance is now likely to be seen at 324.70 a move
above could see prices testing 326.50.
Trading Call: - Consolidation in the 317-325 range to be followed by a rise higher towards 333
or even higher towards 343 levels.
Support: 320, (317.50 bearish), 314.60, 312.00.
Resistance: 324.70, 326.50, (328.60 bullish), 331.20.