MCX Gold Feb: Rallies to 12570/12610 to find resistance for a fall lower towards 12260/12280, break below 12250 will be a bearish sign and prices could test 12100/12120 levels. Break above 12650 would negate this bearish view. S1: 12265 S2: 12120 R1: 12500 R2: 12650
MCX Silver Mar: Favored view expects a fall towards 15800/15850 as long as 16900/16950 caps. However, a direct rise above 17000 to postpone the bearishness.S1:16500 S2:16100 R1:16850 R2:17000
MCX Copper February: A near-term target at 170 has been tested. Further supports at 163/164 being a long-term support point. Possibility of a test of 156/157 cannot be ruled out though. Resistance will be at 174/175 now. S1: 164 S2: 158 R1: 172 R2:177.50
MCX Crude Oil Dec: Structure is bearish for a fall towards 2180/2150 regions. Even 2110/2120 is possible. Short-term up ticks could be seen testing nearer resistance at 2250/2265. Rise above 2300 is needed to hint at stronger recovery, lessening the chance for an immediate decline. S1:2200 S2:2160 R1:2260 R2:2300
MCX Zinc Dec: - As long as 58.40/58.60 caps the upside, expect prices to edge lower towards 55.30/54.80. Rise above 59.90 would negate this bearish view.S1: 56.00 S2: 54.80 R1: 58.40 R2: 59.90
MCX Lead Dec: Expect corrective rallies to find resistance towards 50.20 / 50.50 for a fall towards 47.70 / 47.00 levels. Break above 52.50 would cause doubts about this view. S1: 48.00 S2: 46.70 R1: 50.50 R2: 51.70
MCX Nickel Dec: Rallies to 471/474 could find resistance for a fall lower towards 450/445, break above 480 would negate this bearish view. S1: 455 S2: 440 R1:472 R2: 485
MCX Natural Gas Dec As long as 315/316 resist expect move lower toward 292/294, break above 320 would negate this bearish view. S1:295 S2:290 R1:310 R2:316.50
Friday, December 5, 2008
Thursday, December 4, 2008
COMMODITY :: VIEWS FOR 4th DECEMBER 2008
MCX Gold Feb: Rallies to 12630/12650 to find resistance for a fall lower towards 12360/12380, break below 12360 will be a bearish sign and prices could test 12230/12250 levels. Break above 12700 would negate this bearish view. S1: 12360 S2: 12250 R1: 12620 R2: 12700
MCX Silver Mar: Favored view expects a fall towards 15800/15850 as long as 16950/17000 caps. However, a direct rise above 17020 to postpone the bearishness. S1:16450 S2:16100 R1:16850 R2:17000
MCX Copper February: Important resistance is at 184/85 now. Chances of a pullback or a turnaround is likely above 186. However, further downside towards 170/171 while below 184/85. S1: 180 S2: 172.50 R1: 188 R2:194.50
MCX Crude Oil Dec: Prices could fall towards 2320/2340 initially. Then any rallies to 2380/2400 could find resistance for a fall lower towards 2240/2260, break above 2430 would negate this bearish view. S1: 2320 S2: 2250 R1: 2430 R2:2480
MCX Zinc Dec: - Expect corrective rallies to 58.9/59.20 to find resistance for a fall lower towards 55.30/55.50 levels. Break above 60.25 would negate this bearish view. S1: 56.70 S2: 55.50 R1: 58.90 R2: 60.25
MCX Lead Dec: Any rallies to 52.30/52.60 could find resistance for a fall lower towards 48.50/48 levels. Break above 54.40 would negate this bearish view. S1: 49.10 S2: 48.10 R1: 52.30 R2: 54.50
MCX Nickel Dec: Rallies to 479/485 could find resistance for fall lower toward 450/445, break above 493 would negate bearish view. S1:455 S2:440 R1:479 R2:495
MCX NaturalGas Dec As long as 325/326 resist expect move lower toward 306/308, break above 328 would negate this bearish view. S1:308 S2:300 R1:325 R2:333
MCX Silver Mar: Favored view expects a fall towards 15800/15850 as long as 16950/17000 caps. However, a direct rise above 17020 to postpone the bearishness. S1:16450 S2:16100 R1:16850 R2:17000
MCX Copper February: Important resistance is at 184/85 now. Chances of a pullback or a turnaround is likely above 186. However, further downside towards 170/171 while below 184/85. S1: 180 S2: 172.50 R1: 188 R2:194.50
MCX Crude Oil Dec: Prices could fall towards 2320/2340 initially. Then any rallies to 2380/2400 could find resistance for a fall lower towards 2240/2260, break above 2430 would negate this bearish view. S1: 2320 S2: 2250 R1: 2430 R2:2480
MCX Zinc Dec: - Expect corrective rallies to 58.9/59.20 to find resistance for a fall lower towards 55.30/55.50 levels. Break above 60.25 would negate this bearish view. S1: 56.70 S2: 55.50 R1: 58.90 R2: 60.25
MCX Lead Dec: Any rallies to 52.30/52.60 could find resistance for a fall lower towards 48.50/48 levels. Break above 54.40 would negate this bearish view. S1: 49.10 S2: 48.10 R1: 52.30 R2: 54.50
MCX Nickel Dec: Rallies to 479/485 could find resistance for fall lower toward 450/445, break above 493 would negate bearish view. S1:455 S2:440 R1:479 R2:495
MCX NaturalGas Dec As long as 325/326 resist expect move lower toward 306/308, break above 328 would negate this bearish view. S1:308 S2:300 R1:325 R2:333
Wednesday, December 3, 2008
VIEWS FOR 3RD DECEMBER 2008
MCX Gold Feb: As expected we saw a pullback towards 12700 levels. Support is at 12460/12480 now. Direct rise above 12730 to re-in force bullish expectations. However, structure shows weakness for the time being. S1: 12520 S2: 12430 R1: 12680 R2: 12820
MCX Silver Mar: Favored view expects a fall towards 15650/15700 as long as 17100/17150 caps the upside. However, a direct rise above 17180 will postpone the bearishness.S1:16600 S2:16350 R1:16900 R2:17150
MCX Copper February: Is still in a consolidation, with a mild bullish bias. Fall below 179/180 to take prices lower towards 166/168 levels now or even lower. Only a direct rise above 197/198 to indicate a clear bullish rally from here. S1: 180 S2: 172.50 R1: 188 R2:194.50
MCX Crude Oil Dec: Expect prices to fall towards 2420/2430 initially. Resistance at 2490/2500 should cap for a fall towards 2330/2340 or even lower. Only an Unexpected rise above 2565 to show a bullish turnaround. S1: 2420 S2: 2340 R1: 2510 R2:2570
MCX Zinc Dec :- Expect prices to find resistance towards 60/60.5 for a fall lower towards 57.50/56.80 levels, break above 61 would cast doubts about this bearish view.S1: 58.10 S2: 56.5 R1: 60.5 R2: 62
MCX Lead Dec: As long as 56.60/57 caps the upside expect prices to edge lower towards 53.30/53.60 levles. Break above 57.50 would cast doubts about this bearish view.S1: 54.10 S2: 53 R1: 56.60 R2: 58.10
MCX Silver Mar: Favored view expects a fall towards 15650/15700 as long as 17100/17150 caps the upside. However, a direct rise above 17180 will postpone the bearishness.S1:16600 S2:16350 R1:16900 R2:17150
MCX Copper February: Is still in a consolidation, with a mild bullish bias. Fall below 179/180 to take prices lower towards 166/168 levels now or even lower. Only a direct rise above 197/198 to indicate a clear bullish rally from here. S1: 180 S2: 172.50 R1: 188 R2:194.50
MCX Crude Oil Dec: Expect prices to fall towards 2420/2430 initially. Resistance at 2490/2500 should cap for a fall towards 2330/2340 or even lower. Only an Unexpected rise above 2565 to show a bullish turnaround. S1: 2420 S2: 2340 R1: 2510 R2:2570
MCX Zinc Dec :- Expect prices to find resistance towards 60/60.5 for a fall lower towards 57.50/56.80 levels, break above 61 would cast doubts about this bearish view.S1: 58.10 S2: 56.5 R1: 60.5 R2: 62
MCX Lead Dec: As long as 56.60/57 caps the upside expect prices to edge lower towards 53.30/53.60 levles. Break above 57.50 would cast doubts about this bearish view.S1: 54.10 S2: 53 R1: 56.60 R2: 58.10
Tuesday, December 2, 2008
VIEWS FOR 2nd DECEMBER 2008
MCX Gold Feb: Important support at 12750/12780 has been broken. Resistances now at 12830/12850 followed by 12920/12940. S1:12610 S2:12480 R1: 12770 R2: 12920
MCX Silver Mar: Silver vulnerable for fall towards 15850 or even lower. Resistance at 16880/16940 followed by 17150/17190. S1:16540 S2:16200 R1:16900 R2:17150
MCX Copper February: Is still in a consolidation, with a mild bullish bias. Fall below 180 to take prices lower towards 174/175 levels now or even lower.Only a direct rise above 196.50/197 to indicate a clear bullish rally from here. S1: 182.50 S2: 175.50 R1: 190 R2:195
MCX Crude Oil Dec: Expect prices to dip to 2480/2500 initially. Then Up ticks could be capped near 2560 or 2580 for next decline that could attempt to break below 2460 and go for next levels near 2410/2360. It has to cross above 2620 to hint that there could be a stronger upwards retracement towards 2640/2650 or 2680/2690 levels. S1: 2500 S2: 2400 R1: 2590 R2:2650
MCX Zinc Dec: Expect price to find resistance toward 61/61.20 for a fall lower toward 58.90/59 level, break above 62.20 would cast doubt about this bearish view S1: 59.20 S2: 57.90 R1: 61.10 R2: 62.50
MCX Lead Dec: As long as 57.60/57.80 caps the upside expect prices to edge lower towards 53.50/53.90 levles. Break above 59 would cast doubts about this bearish view. S1: 54.80 S2: 53.5 R1: 57.60 R2: 59.20
MCX Nickel Dec: Rallies to 517/522 could find resistance for fall lower toward 490/495, break above 530 would negate this bearish view.S1: 498 S2: 480 R1:517 R2: 535
MCX Natural Gas Dec: As long as 340/341 resist expect a move lower towards 315/316, break above 344 would negate this bearish view. S1:330 S2:322 R1: 340 R2: 348
MCX Silver Mar: Silver vulnerable for fall towards 15850 or even lower. Resistance at 16880/16940 followed by 17150/17190. S1:16540 S2:16200 R1:16900 R2:17150
MCX Copper February: Is still in a consolidation, with a mild bullish bias. Fall below 180 to take prices lower towards 174/175 levels now or even lower.Only a direct rise above 196.50/197 to indicate a clear bullish rally from here. S1: 182.50 S2: 175.50 R1: 190 R2:195
MCX Crude Oil Dec: Expect prices to dip to 2480/2500 initially. Then Up ticks could be capped near 2560 or 2580 for next decline that could attempt to break below 2460 and go for next levels near 2410/2360. It has to cross above 2620 to hint that there could be a stronger upwards retracement towards 2640/2650 or 2680/2690 levels. S1: 2500 S2: 2400 R1: 2590 R2:2650
MCX Zinc Dec: Expect price to find resistance toward 61/61.20 for a fall lower toward 58.90/59 level, break above 62.20 would cast doubt about this bearish view S1: 59.20 S2: 57.90 R1: 61.10 R2: 62.50
MCX Lead Dec: As long as 57.60/57.80 caps the upside expect prices to edge lower towards 53.50/53.90 levles. Break above 59 would cast doubts about this bearish view. S1: 54.80 S2: 53.5 R1: 57.60 R2: 59.20
MCX Nickel Dec: Rallies to 517/522 could find resistance for fall lower toward 490/495, break above 530 would negate this bearish view.S1: 498 S2: 480 R1:517 R2: 535
MCX Natural Gas Dec: As long as 340/341 resist expect a move lower towards 315/316, break above 344 would negate this bearish view. S1:330 S2:322 R1: 340 R2: 348
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