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 :
Friday, December 12, 2008
Thursday, December 11, 2008
VIEWS FOR 11th DECEMBER 2008
MCX Gold Feb: Break above 12559/12590 is a positive sign and should lead prices towards 12905 or 13077 levels now. Supports are at 12387 followed by 12293 levels now.S1: 12635 S2: 12550 R1: 12800 R2: 12895
MCX Silver Mar: Expect prices to rise towards 18080 levels being a strong resistance point. Ideally, prices should cap here or before this level for a decline,as the big picture structures remain weak.S1:16720 S2:16380 R1:17350 R2:17750
MCX Copper February: A messy consolidation in progress. Supports are at 159 followed by 155 now. We favor supports to hold for a test of 182 or even higher.Direct fall below 152 to accelerate the fall towards 124.S1: 163 S2: 157 R1: 172 R2:178
MCX Crude Oil Dec : Favoured view expects an upturn near the supports that are located around 2100/2114, 2050 $ lastly 2030.The potential for a rally towards 2257 or 2291 continues to exist. Price has to fall below 2027 to hint at the possibility of some more downside attempts.S1: 2150 S2: 2098 R1: 2257 R2:2310
MCX Lead Dec: As long as 48.0-48.15 levels support , expect prices to move higher towards 50.5-50.75 levels . However a fall below 48.00 would negate this bullish view.S1: 48.50 S2: 47.50 R1: 50.10 R2: 51.70
MCX Zinc Dec: - As long as 54.0-54.25 levels support , expect prices to move higher towards 56.8-57.25 levels .However a fall below 53.80 would negate this bullish view.S1: 54.15 S2: 53.50 R1: 55.90 R2: 57.20
MCX Nickel Dec: As long as 487.0-475.0 levels support , expect prices to move higher towards 532.0-550.0 levels .However a fall below 470.00 would negate this bullish view.S1: 485 S2: 462 R1:525 R2: 550
MCX Natural Gas Dec :- As long as 273.0-269.0 levels support , expect prices to move higher towards 284-290 levels .However a fall below 268 would negate this bullish view.S1: 267 S2: 260 R1: 283 R2: 290
Wednesday, December 10, 2008
VIEWS FOR 10TH DECEMBER 2008
MCX Gold Feb:Continues to consolidate with a mild bullish bias.Resistance in the 12502-12540 zone quite strong could even extend to 12610 as long as 12110 holds. S1: 12272 S2: 12185 R1: 12395 R2: 12470
MCX Silver Mar: Resistance is at 17250 followed by 17620 now. Big picture structures favor a downside still and expect resistances to cap for a decline towards 15832. Direct rise above 17860 to cast doubts on our bearish view. S1:16720 S2:16380 R1:17072 R2:17246
MCX Crude Oil Dec: Supports are at 2040/2045 levels now. Ideally, a consolidation between 2045 to 2193 to continue and then breakout higher towards 2370 or even higher. This is the favored expectation. Failure to hold support at 2020-2045 zones to take prices lower towards 1873. S1: 2095 S2: 2035 R1: 2175 R2:2210
MCX Copper February: A messy consolidation in progress. Supports are at 160 followed by 157 now. We favor supports to hold for a test of 185 or even higher. Direct fall below 153 to accelerate the fall towards 126.S1: 160 S2: 157 R1: 167 R2:170
MCX Zinc Dec: - As long as 54.0-54.25 levels support , expect prices to move higher towards 56.8-57.25 levels . However a fall below 54.00 would negate this bullish view. S1: 54.15 S2: 53.50 R1: 55.90 R2: 57.20
MCX Lead Dec: As long as 48.0-48.15 levels support , expect prices to move higher towards 50.5-50.75 levels . However a fall below 48.00 would negate this bullish view. S1: 48.00 S2: 47.00 R1: 50.10 R2: 51.70
MCX Natural Gas Dec :- As long as 273.0-269.0 levels support , expect prices to move higher towards 284-290 levels . However a fall below 268 would negate this bullish view. S1: 267 S2: 260 R1: 283 R2: 290
MCX Nickel Dec: As long as 452.0-447.0 levels support , expect prices to move higher towards 475.0-487.0 levels . However a fall below 447.00 would negate this bullish view. S1: 447 S2: 420 R1:472 R2: 485
MCX Silver Mar: Resistance is at 17250 followed by 17620 now. Big picture structures favor a downside still and expect resistances to cap for a decline towards 15832. Direct rise above 17860 to cast doubts on our bearish view. S1:16720 S2:16380 R1:17072 R2:17246
MCX Crude Oil Dec: Supports are at 2040/2045 levels now. Ideally, a consolidation between 2045 to 2193 to continue and then breakout higher towards 2370 or even higher. This is the favored expectation. Failure to hold support at 2020-2045 zones to take prices lower towards 1873. S1: 2095 S2: 2035 R1: 2175 R2:2210
MCX Copper February: A messy consolidation in progress. Supports are at 160 followed by 157 now. We favor supports to hold for a test of 185 or even higher. Direct fall below 153 to accelerate the fall towards 126.S1: 160 S2: 157 R1: 167 R2:170
MCX Zinc Dec: - As long as 54.0-54.25 levels support , expect prices to move higher towards 56.8-57.25 levels . However a fall below 54.00 would negate this bullish view. S1: 54.15 S2: 53.50 R1: 55.90 R2: 57.20
MCX Lead Dec: As long as 48.0-48.15 levels support , expect prices to move higher towards 50.5-50.75 levels . However a fall below 48.00 would negate this bullish view. S1: 48.00 S2: 47.00 R1: 50.10 R2: 51.70
MCX Natural Gas Dec :- As long as 273.0-269.0 levels support , expect prices to move higher towards 284-290 levels . However a fall below 268 would negate this bullish view. S1: 267 S2: 260 R1: 283 R2: 290
MCX Nickel Dec: As long as 452.0-447.0 levels support , expect prices to move higher towards 475.0-487.0 levels . However a fall below 447.00 would negate this bullish view. S1: 447 S2: 420 R1:472 R2: 485
Monday, December 8, 2008
VIEWS FOR THE WEEK FROM 08TH DECEMBER 2008
MCX Gold Feb: Resistances are at 12303 followed by 12430 now. Rise above 12430 could lead prices higher towards 12672 levels again. However, price structures, are not conducive for any major upside and expect a test of 11550 levels. S1: 12035 S2: 11950 R1: 12199 R2: 12322
MCX Copper February: A possible upward correction can be seen. The first trigger will be a rise above 171.50 followed by close above 178. In the absence of this move the downside rally could continue towards 157.S1: 159 S2: 155 R1: 165.70 R2:169.55
MCX Crude Oil Dec: Favoured view expects a corrective rise towards 2170 / 2250. Supports are near 2095 $ 2078. Fall below 2075 would cause doubts about maintaining this stance. Below 2025 we could see the resumption of downtrend that has its next target at 1802 to begin with S1: 2078 S2: 2025 R1: 2145 R2:2188
MCX Zinc Dec: - Supports at 53.05 / 52 levels now. While above these levels we could expect corrective rallies towards 57/58 levels. Fall below 52 to see further weakness in prices.S1: 53.10 S2: 52.00 R1: 55.60 R2: 57.20
MCX Lead Dec: A break above 50 could see a corrective rally towards 52.50/53 levels. On the other hand a fall below 46 would be required to see prices prices weaken further.S1: 46.25 S2: 45.00 R1: 49.50 R2: 51.70
MCX Nickel Dec:Rallies to 471/480 could find resistance for a fall lower toward 440, break above 485 would negate this bearish view.S1:447 S2:420 R1:472 R2:485
MCX Natural Gas Dec While below 295 / 306 prices could stay under pressure and a break below 284 to see further weakness. A rise above 313 would negate this view. S1: 285 S2: 270 R1: 295 R2: 306
MCX Copper February: A possible upward correction can be seen. The first trigger will be a rise above 171.50 followed by close above 178. In the absence of this move the downside rally could continue towards 157.S1: 159 S2: 155 R1: 165.70 R2:169.55
MCX Crude Oil Dec: Favoured view expects a corrective rise towards 2170 / 2250. Supports are near 2095 $ 2078. Fall below 2075 would cause doubts about maintaining this stance. Below 2025 we could see the resumption of downtrend that has its next target at 1802 to begin with S1: 2078 S2: 2025 R1: 2145 R2:2188
MCX Zinc Dec: - Supports at 53.05 / 52 levels now. While above these levels we could expect corrective rallies towards 57/58 levels. Fall below 52 to see further weakness in prices.S1: 53.10 S2: 52.00 R1: 55.60 R2: 57.20
MCX Lead Dec: A break above 50 could see a corrective rally towards 52.50/53 levels. On the other hand a fall below 46 would be required to see prices prices weaken further.S1: 46.25 S2: 45.00 R1: 49.50 R2: 51.70
MCX Nickel Dec:Rallies to 471/480 could find resistance for a fall lower toward 440, break above 485 would negate this bearish view.S1:447 S2:420 R1:472 R2:485
MCX Natural Gas Dec While below 295 / 306 prices could stay under pressure and a break below 284 to see further weakness. A rise above 313 would negate this view. S1: 285 S2: 270 R1: 295 R2: 306
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