Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 28 July 2021 By Geojit Financial
BULLION
GOLD
Prices likely to consolidate within the trading range of 47800-47300. A firm move which crack above or below the recommended range could set off fresh directional move.
SILVER
Previous session weakness may persist by breaking the downside obstacle of 65800 region. If the above-mentioned region remain undisturbed could trigger rebounding trades to higher levels.
ENERGY
CRUDEOIL
Like we said last day, prices have been approaching towards the upside hindrance of 5420 region. Failed to challenge above the same may be an early sign of long liquidation in the upcoming session.
NATURAL GAS
Present long liquidation move may persist if prices stay below 294 region. On the other hand, retreating trades above the same may boost prices further higher.
BASE METALS
COPPER
Prices still have room for upside momentum and possibly to stretch its gain. However, in this positive picture, a downside fall which settle below 750 may grab prices lower.
NICKEL
By holding the upside hurdle of 1495 prices turn lower. If price remained below the same could expect further corrective move towards 1450 levels. But decisive trades above 1495 may be sign of broad buying to continue.
ZINC
Broad buying still intact and possibly to stretch higher. Even in this positive sentiments, a surprise fall below 243 may dent our buying expectation.
LEAD
Intraday buying may withstand only by stable trades above the upside hurdle of 177.60 region. Else hold the same for a downside corrective move in the later session.
ALUMINIUM
Intraday buying may build up only by solid trades above 201.50 region. Failed to challenge above the same could eventually push down prices lower in the coming session.
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