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Published on 6/05/2021 5:48:07 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 06 May 2021 By Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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BULLION

GOLD

Dip below the Bollinger middle band level of 46870 would expect a downside corrective move. Inability mark such trades may push prices higher .

 

SILVER

Solid trades above the upside obstacle of 70950 could cajole fresh buying in the coming session. If prices failed to challenge above the same may eventually push prices lower.v

 

ENERGY

CRUDEOIL

Fall below the obstacle of 4770 may be a sign of weakness. Botched to crack below the same may lift prices further higher.

 

NATURAL GAS

Prices likely to consolidate in the trading range of 223-214. A firm move which breaks either side of range may set off fresh directional move.

 

BASE METALS

Copper

A major long liquidation move may develop only by decisive trades below the downside hurdle of 760 region. Inability to mark such trades may retain broad buying momentum.

 

NICKEL

Intraday weakness may be seen only by tangible trades below 1310 region. If the above mentioned region remained untouched could boost prices higher

 

BASE METALS

Zinc

As long as prices hold the downside hurdle of 229.80 could retain broad buying momentum. However, slippage below the same may squeeze down prices lower.

 

Lead

Prices need to challenge above the upside hurdle of 175.60 for to continue ongoing buying momentum. Else hold the same for downside corrective move.

 

BASE METALS

Aluminium

Present buying sentiments possibly to prolong in the coming session further higher. Although a direct fall below 196.70 may squeeze down prices lower.

 

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