Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 07 May 2021 By Geojit Financial
BULLION
GOLD
Prices possibly to float higher if prices stay above the downside hindrance of 47320 region. But an unexpected fall below the same may gradually push prices lower.
SILVER
Prices yet to take off above 72300 to initiate further buying spree. Botched attempt to mark such trades may squeeze down prices lower.
ENERGY
CRUDEOIL
A long liquidation move is progressing and likely to stretch lower in the coming session. Although reclaiming trades above 4820 would be a sign of further price recovery.
NATURAL GAS
Prices still consolidating 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
Established buying momentum largely to uphold if prices stay above the downside hindrance of 775 region. But a vertical fall which crack below the same may squeeze down prices lower.
NICKEL
Intraday move is largely to be northbound. But a price fall below 1321 may grab prices lower.
BASE METALS
Zinc
Next phase of buying may be seen only above 236.50 region. Else hold the same for a downside corrective move in the coming session.
Lead
Next stage of buying may be seen only above the 176.50 region. Which if remain untouched may squeeze down prices lower.
BASE METALS
Aluminium
Prices possibly to trade further higher if prices stay above the 199.50 region. However a surprise fall which settle below the same may push prices lower.
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