EXPECTATIONS FOR 24TH MARCH 2010

 EXPECTATIONS  FOR  24TH  MARCH  2010

MCX Gold Apr: Support was seen at 16305, the bounce from there has been impressive. Resistance will be at 16545 followed by 16605 now. Ideally resistances to cap for a decline lower towards 16230 or even lower towards 16035.
S1: 16345 S2: 16265 R1: 16485 R2: 16565

MCX Silver May: Favored view is still bearish for a fall towards 26162 levels followed by 25771. Only rise above 27102 to negate our bearish view.
S1: 26466 S2: 26316 R1: 26766 R2: 26916



 MCX Copper April: Strong resistance is seen at 344 levels. Failure to cross at 344 could dampen bullish expectations. Such a fall could take prices below 330. Rise above 344 is likely to take prices towards 348 levels.
S1: 335.50 S2: 331.50 R1: 343.50 R2: 347.50

 MCX Crude Oil April: Unable to move above 3743 is a bearish sign. Break below 3679 to take prices further down towards 3648 followed by 3611.
S1: 3689 S2 3649 R1: 3769 R2: 3809

 MCX Zinc Mar: Resistance is seen at 101.9 levels followed by 103.2 levels.
Favored view expects prices to move further lower towards 100 levels.
S1: 99 S2: 97 R1: 103 R2: 105

 MCX Lead Mar: While below 98.5 it is likely to dip further towards 92/93 levels unexpected rise above 99 to dent our bearish expectations.
S1: 93 S2: 91 R1: 97 R2: 99

 MCX Nickel Mar:  Resistance is seen at 1030 levels. Once above 1030 rise towards 1040 can be expected. Fall below 1010 to take prices further lower towards 995 levels.
S1: 1009 S2: 994 R1: 1039 R2:

MCX Natural Gas Mar: A consolidation is underway between 184/190 now.
Extreme oversold indications favor a pullback towards 205 or even higher.
S1: 183 S2: 179 R1: 195 R2: 200