VIEWS FOR 12th NOVEMBER 2008

MCX Gold: As expected support at 11495 being the downside trading range held so far. Strong resistance will be seen at 11820 now.No clear direction till we see a break on either side.S1: 11560 S2:11480 R1: 11690 R2: 11740

MCX Silver December: Resistance is at 17017 followed by 17362 now. Rallies to 17185 can be sold s/l 17710 t/p 16066.S1:16500 S2:16350 R1:16950 R2:17200

MCX Crude Oil November: Supports are near 2856 $ 2793. While below 2898/2907 region price could dip first towards supports and then rise as a corrective sequence towards levels like 2966 or even 3030.

MCX Copper November: - Mild support at recent lows at 180.0 was seen. Resistance will be seen at 190.0 followed by 194.0.Only a direct rise above 196 could re-enforce bullish expectations.S1: 177 S2: 173 R1: 188 R2:192

VIEWS FOR 11th NOVEMBER 2008

MCX Gold (December): Back in its volatile range again. Near-term support at 11610 followed by 11328 now. Favoured view still expects a break of 11998 as long as 11142/11172.S1: 11450 S2:11388 R1: 11615 R2: 11700

MCX Silver December: Supports are at 16751 followed by 16383 now. Break below 16380 could drag prices lower towards 15281/15370 levels. S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil November: Dips could be held near 2881/2895 or max 2840 for a rise towards 3035 or higher like 3077.Risk is set below 2833. Next support at 2800 $ 2761.S1: 2845 S2: 2800 R1: 2915 R2:2985

MCX Copper November: - Choppiness continues in the base metal complex. Near-term support is at 180/181 now. Unexpected fall below this level could once again bring our target at 145 in focus.S1: 182 S2: 178 R1: 193 R2:199

MCX Zinc Nov :- A break of the broad range 52.0-56.5 will decide the next directive move. Favored view expects a fall. S1: 51.55 S2: 50.00 R1: 54.00 R2: 55.15

MCX Lead Nov :- Expect up ticks to find resistance at 69.5 levels for a fall towards support levels at 64.0 levels .A direct rise above 69.5 would be a bullish sign S1: 64.20: 63.00 R1: 66.35 R2: 67.70

MCX Nickel Nov: A break of the broad range 578 , 525 would decide the next directive move. Favored view expect up ticks to find resistance at 565-578 levels. S1: 535 S2: 525 R1:565 R2: 585

MCX Natural Gas Nov: Expect up ticks to find resistance at 345-350 zones to fall lower towards 335-327 levels . Only a rise above 352 would be considered bullish.S1: 335 S2: 327 R1: 342 R2: 349

VIEWS FOR THE WEEK FROM 10th NOVEMBER

MCX Gold (December) : Chart is bullish for a rise towards 11970/12090. Now a corrective retracement is possible. Supports are at near 11743/11728.It has to fall below 11633 to give up this bullish view.
S1:11450 S2:11388 R1:11615 R2:11700.

MCX Silver (December) : Rise above 17400 is seen as a bullish sign which could lead prices back towards 18120 or even higher. Important support is at 16900 followed by 16630.
S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil (Nov) : Price could rise towards 3145/3170 areas. Short-term exhaustion noticed now hints at the possibility of a drift to supports near 3072/3048. It has to fall below 3035 to cause doubts about this bullish view. S1:2980 S2:2955 R1:3055 R2:3120.