Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 27 January 2022 By Geojit Financial
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BULLION
GOLD
Witnessing weakness may largely to continue towards the downside objective of 48100 or even more to 47860 region. Even in this bearish expectation, recovery trades above 48480 may call fresh recovery move.
SILVER
Early price pullbacks can be seen before initiating next stage of weakness in the upcoming session towards 62600 region. But a recovery trades above 63800 would be sign of mild price recovery.
ENERGY
CRUDEOIL
Prices still have room for gains and possibly to extend in the upcoming session. A vertical fall below 6470 may gradually squeeze down prices lower in the later session.
NATURAL GAS
Established buying sentiments likely to persist towards the upside objective of 315 or even more to 321. However, a corrective dip below 303 may negate our buying expectation.
BASE METALS
COPPER
Intraday weakness may be seen only by a corrective fall below 751 region. Inability to mark such trades may invite fresh buying in the later session.
NICKEL
Ensuing buying sentiments likely to uphold in the session to come towards the upside objective of 763 or even more. But a corrective fall below 752.70 may be sign of intraday weakness.
ZINC
Prices have been approaching towards the upside hurdle of 300 region. Which if breaks could extend broad buying towards 301.80 or even more. Failed to challenge above 300 may dent our buying expectation.
LEAD
Breach below the downside support of 185.50 may induce fresh selling in the coming session. Failed to mark such trades could bid intraday recovery move to 188.80.
ALUMINIUM
If prices remain above the downside support of 247.20 region could expect further buying in the upcoming session. Although a vertical fall through the same may invite intraday weakness to the counter.
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