Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 01 December 2021 By Geojit Financial
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BULLION
GOLD
Intraday weakness may trigger only by tangible trades below 47500. Failed to achieve such trades may be a sign of price recovery move in the session to come.
SILVER
Prices likely to consolidate within the trading range of 61800-63700 region. Prices yet to mark trades above or below the mentioned region to set off fresh directional move.
ENERGY
CRUDEOIL
Witnessing recovery move likely to find momentum further towards the upside objective of 5320 or even higher. But a corrective fall which slip below 5020 may be a sign of fresh selling.
NATURAL GAS
Early price recovery may be seen before initiating further weakness on the counter. But recovery trades above the upside hurdle of 340 may bid fresh recovery move.
BASE METALS
COPPER
Prices have been consolidating in the previous day trading session. So, a directional move may set out only by decisive trades which breaks either side of the trading range of 739-726.
NICKEL
Prices possibly to trade high in upcoming session. Although, a corrective fall which settle below the downside support of 1532 may be a sign of intraday weakness.
ZINC
As long as prices hold the downside obstacle of 270 region, we could expect price recovery in the session to come. A corrective fall below the same may dent our buying sentiments.
LEAD
Prices have been approaching towards the Bollinger middle band level of 186.50 region. Which if breaks could lift prices higher, botched attempt to challenge above the same may squeeze down prices lower.
ALUMINIUM
Resurging trades above the upside hindrance of 213.80 could boost prices higher. If the above-mentioned region remain undisturbed could expect prices to trade further lower.
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