EXPECTATION FOR 2ND DECEMBER

Watch out for:

Intl GOLDspot above 1200. 1227 in sight?

Rubber continues to surge in TOCOM.

Eurozone PPI

US ADP & Challenger Jobs data

Fed speeches and Beige Book


--------------------------------------------------------------------------------



GOLD (spot): Targets1227- 50



The week has a lot of crucial economic data which presents set up for intense volatility, and the current momentum favours the uptrend to continue to atleast 1245-55 region, with chances of intermediate pause seen at 1220-27 region



Strategies

Buy with rallies.

Dips to 1198/1192 could also be bought.

Target 1227-1245


--------------------------------------------------------------------------------



Nymex Crude (Jan): Last 78.3

After yesterday’s swing higher towards 79.05, prices are still in the neutral region, as we are yet to see a close above 78.5, suggested yesterday. So, even though the bias is increasingly turning positive, we are less inclined to take a directive bullish view, until atleast we see a couple of hours of close above 78.5 today, in which case we could see 81.5. Meanwhile, dips to 76.2 would continue attracting bargain hunting


--------------------------------------------------------------------------------



Comex Copper (Mar): Last 3.2265



Dips to 3.18 could find support for a rise towards 3.26



INTERNATIONAL SPOT SILVER:-The trend line resistance has been crossed on closing basis in sustained manner.

Hold long positions if any with a stop loss of 18.36$.

Corrective dip to 18.88$ or below can be used for buying.



INTERNATIONAL SPOT GOLD:-Hold long positions with a stop loss of 1194.

Corrective dip to 1201 can be used for buying.

Expect higher range of 1230$ to be tested



NYMEX NATURAL GAS;-A range bound movement has been develop now.

Till a further breakout and close above 5.32$ is not witnessed further rally cannot be seen.

Support is at 4.61$



NYMEX CRUDE;-Hold long positions if any with a stop loss of 77$.

Expect higher range of 79.8-82$ can be used for profit booking



MCX GOLD TRADING STARATERGY;-Traders holding long can keep a stop loss of 17700.

Sell on fall below 17700 with high of the day stop loss.

Exit long positions on rise to 18120-18194 range as the opportunity arises.

Fresh trading long positions can be undertaken on rise and close above 18082 with low of the day stop loss.

Corrective dip to 17891-17773 can be used for buying with a stop loss of 17700





MCX Gold Feb: Ideally, supports at 18031 to hold for 18180/18225 or even higher towards
18255.Unexpected fall below 17881 to result in a corrective fall.
S1: 17878 S2: 17798 R1: 18038 R2: 18118.


--------------------------------------------------------------------------------




MCX Silver March: Supports at 29028 to hold for a test of 29535/29564 or even higher
towards 29917/29945.Fall below 28906 to kick-start a sharp corrective decline.
S1: 29205 S2: 29075 R1: 29464 R2: 29595.


--------------------------------------------------------------------------------




MCX Copper Feb: Dips to 319/321 to hold for 329.50/331.20 levels.Fall below 317.90 to
lead into a corrective decline. S1: 324.75 S2: 320.75 R1: 332.75 R2: 336.75.


--------------------------------------------------------------------------------




MCX Crude Oil December: Important support is at 3584 followed by 3561. Ideally supports
to hold for a break above 3658 targeting 3758.Fall below 3554 to dent our bullish
expectation. S1: 3608 S2: 3568 R1: 3688 R2: 3728.


--------------------------------------------------------------------------------




MCX Zinc Dec: Dips to 107.30/107.00 to find support for a move higher towards
111.50/112.0 levels.Fall below 105.0 to negate this view.
S1: 107.70 S2: 106.80 R1: 109.70 R2: 111.10.


--------------------------------------------------------------------------------




MCX Lead Dec: Dips to 111.0/110.60 to find support for a move higher towards 115.0
levels.Fall below 108.0 to negate this bullish view.
S1: 110.35 S2: 109.20 R1: 113.70 R2: 114.70.


--------------------------------------------------------------------------------




MCX Nickel Dec: While above 737 expect prices to rally higher towards 791 levels.
S1: 748 S2: 738 R1: 769 R2: 782


--------------------------------------------------------------------------------




MCX Natural Gas Dec: Rallies to 233/235 to find resistance for a move lower towards
215/210 levels.A direct rise above 241 to raise doubts. S1: 222 S2: 218 R1: 230 R2: 234





MCX SILVER TARDING STARTERGY;-Corrective dip to 29093-28681 can be used for buying with a stop loss of 2440.

Expect higher range of 29746-30158 to be tested