VIEWS FOR 21st JANUARY 2009

MCX Gold Feb: Our anticipated upside targets were tested. Either a consolidation or a corrective pullback towards 1322713259 levels look likely. Ideally supports should hold and take out the important resistance at 13635/13651 now. S1: 13420 S2: 13350 R1: 13575 R2: 13670

MCX Silver Mar: After a test of 18050 we saw silver futures rising higher again and finding resistance at the trend line at 18623/18705.Ideally 18052/18133 to hold for a test of 18983 Unexpected fall below 17806 to dent our bullish view. S1:18150 S2:17950 R1:18600 R2:18820

MCX Copper February: Still in a broad range btw 156 to 176. Break either side to determine direction.Favored view expects a break higher. S1: 160 S2:156 R1: 168 R2:172

MCX Crude Oil Feb : Resistances are at 2066 followed by 2122 now. Ideally, resistances to cap for a decline towards 1856.Rise above 2137 to change the picture to bullish. S1: 1975 S2: 1932 R1: 2085 R2: 2135

MCX Zinc Jan: - Up ticks to 60.75 or upto 60.95 likely to find resistance for a move lower towards 57.5 or even lower towards 56.0 levels.Only a rise above 61.55 to negate this bearish view.
S1: 58.75 S2: 57.65 R1: 61.00 R2: 62.10


MCX Lead Jan: Rallies to 57.25, 57.75 likely to find resistance and move lower towards 54.5 or even lower towards 53.00 levels. A rise above 58.65 to negate this bearish view.
S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30


MCX Nickel Jan: Mild bullishness seen for the test of 577 , 582 as long as 536 levels hold. A fall below 523.0 to negate this bullish view.S1: 535 S2: 517 R1: 562 R2: 579