Tuesday, December 8, 2009

VIEWS FOR 8TH DECEMBER 2009

MCX Gold Feb: Dips to 17349/17364 to hold for a pullback towards 17712/17862.
This is our favored view. Fall below 17213 could cause doubts on our bullish view.
 S1: 17466 S2: 17386 R1: 17626 R2: 17706.




MCX Silver March: Supports are at 28255/28300 for a pullback towards 29125/29157 or
even higher towards 29250.Fall below 28099/28146 to dent our bullish exp.
S1: 28342 S2: 28212 R1: 28604 R2: 28732.




MCX Copper Feb: Rise above 328.20/329.50 to increase our bullish expectations
 towards 331.25 or even higher towards 332.40/333.40 or even higher.Important support
is at 323.05/324.10, a break below this level to negate the bullish view.
S1: 325.70 S2: 321.70 R1: 333.70 R2: 337.70.




MCX Crude Oil December: Resistance is at 3487 followed by 3548/3550. Move above 3550
 to lead to a rise towards 3625/ 3643. S1: 3455 S2: 3415 R1: 3535 R2: 3575.




MCX Zinc Dec: While above 106.30, expect rallies to target 109.20 /110.0 levels.  
 S1: 106.40 S2: 105.50 R1: 108.50 R2: 109.70.




MCX Lead Dec: While above 105.50 levels expect rallies to target 109.60/110.0 levels.
  S1: 106.2 S2: 105.10 R1: 108.10 R2: 109.30.




MCX Nickel Dec: While above   737 expect rallies to target 770 levels.
S1: 746 S2: 734 R1: 767 R2: 779.




MCX Natural Gas Dec: Supports at 227/225 to hold dips for a rise unto 241 levels.
All fall below 221 to raise doubts on this bullish view. S1: 227 S2: 223 R1: 237 R2: 242

 

INTERNATIONAL SPOT GOLD ::

Support has been witnessed yesterday at the last week’s low of 1136.9$. The low last week was a sharp intra-day fall which a recovery. On the same low, yesterday we saw the support and recovery once again.
A minor pull back of the fall from the peak of 1226.65$ to 1135$ could be witnessed.

Further  selling pressure could be seen on fall and close below 1135$.

Resistance will be at 1170$-1181$-1192$.


NYMEX  LIGHT  CRUDE  OIL :: 

We had indicated to buy on dip to 73-72.5$ range yesterday. Traders who had undertaken long positions can keep a stop loss of 72$ as mentioned.

Resistance will be at 74.85$-76.1$.

Traders can take profit on the long positions at 74.85$-76.1$ range as the opportunity arises.

ENJOY  TRADING  !!!!

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