Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 22 October 2021 By Geojit Financial
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BULLION
GOLD
Witnessing buying sentiments likely to uphold in the coming session. Even in this positive sentiments, a vertical fall through 47350 may be a sign of intraday weakness.
SILVER
Broad buying still intact and possibly to scale towards the upside objective of 66300 or even more. But an unexpected fall below the downside obstacle of 64900 may bid fresh selling.
ENERGY
CRUDEOIL
Ensuing buying sentiments possibly to strengthen in the upcoming session towards the upside objective of 6280 or even higher. Even in this bullish outlook , a surprise fall below 6120 may grab prices lower.
NATURAL GAS
Intraday move is largely to be northbound if prices stay above the downside hindrance of 378 region. But a corrective fall which settle below the same may induce fresh selling for later session.
BASE METALS
COPPER
Reclaiming trades above the immediate hurdle of 776 region could trigger fresh buying in the coming session. Failed to reach above the same may dampen intraday buying sentiments.
NICKEL
Previous session steep fall may continue only below the downside hindrance of 1530 region. Which if remain undisturbed could expect prices to rebound higher.
ZINC
Technical Commentary If prices remain above the downside hindrance of 280 region could expect prices to trade upside trajectory. However, slippage below the same may be a sign of further weakness.
LEAD
Broad buying still intact and possibly to extend in the coming session. But fall past below the downside hindrance of 184 may be a sign of intraday weakness.
ALUMINIUM
Retreating trades above the upside hindrance of 237 could help prices to aim higher. Else hold the same for further long liquidation move in the session to come.
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