MCX Gold (December): Looks more like a consolidation in play between 11224-12000 levels. Price structures are not comfortable for a bullish move Fall below 11224 to drag prices lower towards 10670 or even lower.S1: 11400 S2:11320 R1: 11565 R2: 11630
MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600
MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065
MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195
MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55
MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70
MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618
MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350
Friday, November 7, 2008
VIEWS FOR 07th NOVEMBER 2008
MCX Gold (December): Looks more like a consolidation in play between 11224-12000 levels. Price structures are not comfortable for a bullish move Fall below 11224 to drag prices lower towards 10670 or even lower.S1: 11400 S2:11320 R1: 11565 R2: 11630
MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600
MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065
MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195
MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55
MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70
MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618
MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350
MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600
MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065
MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195
MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55
MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70
MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618
MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350
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
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
Monday, November 3, 2008
VIEWS FOR THE WEEK FROM 3rd NOV
MCX Gold (December): Bearish momentum suggests that price could fall towards minimum 11388. This decline has a potential to stretch to the ideal target band at 10970/10896 or as an extreme case to even 10574. Up ticks if any could be capped at 11735 or maximum 11831. This bearish view would become doubtful if price manages to rise past 11847.S1: 11630 S2:11550 R1: 11885 R2: 11955
MCX Silver December: Favoring a corrective rise. The chart looks bullish for a rise towards 17520/17740 or 18970/19300. Corrective dips of any could be held near 16335/16425. It has to fall below 15770 to change this bullish outlook.S1:16500 S2:16210 R1:17100 R2:17400
MCX Crude Oil November: Chart looks bullish for 3500/3520. Corrective dips could be held at 3370 or maximum 3330. Stop below 3295 the outlook would not be clear.S1: 3345 S2: 3295 R1:3468 R2:3515
MCX Copper November: - A corrective rise towards 232 or even 249 is expected. Initial resistance is at 215, Supports are around 204 $ 200 It needs to fall below 192 to turn the view bearish. As of now upside is favored.S1: 206 S2: 200 R1: 218 R2:225
MCX Lead Nov: Expect dips to find support at 71.0 72.0 levels for a move higher towards 77.65 or even 79.0 levels .Fall below 69.5 would cause doubts about this view.S1: 73.35 S2: 72.0 R1: 76.35 R2: 77.85
MCX Zinc Nov :- As long as 56.5 levels hold support , expect prices to move up higher towards 61.0 or even 63.0 levels .Fall below 54.80 would cause doubts about this bullish view. S1: 56.45 S2: 55.15 R1: 58.95 R2: 60.15
MCX Natural Gas Nov: Expect 324-318 levels to support prices for a move higher towards 340-356 range.Only a fall below 314 would be considered bearish now.S1: 323 S2: 315 R1: 342 R2: 350
MCX Nickel Nov: Expect prices to find support at 595 605 levels for a move higher towards 644 or even 675 levels.Only a fall below 565 would cast a doubt on this bullish view.S1: 600 S2: 575 R1: 651 R2: 674
MCX Silver December: Favoring a corrective rise. The chart looks bullish for a rise towards 17520/17740 or 18970/19300. Corrective dips of any could be held near 16335/16425. It has to fall below 15770 to change this bullish outlook.S1:16500 S2:16210 R1:17100 R2:17400
MCX Crude Oil November: Chart looks bullish for 3500/3520. Corrective dips could be held at 3370 or maximum 3330. Stop below 3295 the outlook would not be clear.S1: 3345 S2: 3295 R1:3468 R2:3515
MCX Copper November: - A corrective rise towards 232 or even 249 is expected. Initial resistance is at 215, Supports are around 204 $ 200 It needs to fall below 192 to turn the view bearish. As of now upside is favored.S1: 206 S2: 200 R1: 218 R2:225
MCX Lead Nov: Expect dips to find support at 71.0 72.0 levels for a move higher towards 77.65 or even 79.0 levels .Fall below 69.5 would cause doubts about this view.S1: 73.35 S2: 72.0 R1: 76.35 R2: 77.85
MCX Zinc Nov :- As long as 56.5 levels hold support , expect prices to move up higher towards 61.0 or even 63.0 levels .Fall below 54.80 would cause doubts about this bullish view. S1: 56.45 S2: 55.15 R1: 58.95 R2: 60.15
MCX Natural Gas Nov: Expect 324-318 levels to support prices for a move higher towards 340-356 range.Only a fall below 314 would be considered bearish now.S1: 323 S2: 315 R1: 342 R2: 350
MCX Nickel Nov: Expect prices to find support at 595 605 levels for a move higher towards 644 or even 675 levels.Only a fall below 565 would cast a doubt on this bullish view.S1: 600 S2: 575 R1: 651 R2: 674
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