Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 04 July 2023 By Geojit Financial
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BULLION
Gold
Converging MACD lines rule out the possibility of weakness. Steady trades above the 58700 may strengthen the prices. However, unexpected dip below the trend line support of 57800 may induce weakness in the counter.
Silver
Extended gains above 71200 may strengthen the prices further. Whereas, a dip below 70200 may induce weakness as well.
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ENERGY
Crude Oil
Extended gains above 5880 may strengthen the prices. Whereas, a dip below 5720 may induce weakness for the day.
Natural Gas
A dip below 219 region may induce mild weakness. Rebound may sustain only above 226.
BASE METALS
Copper
Weakness expected below 713 region. However, if the same support is held, mild rebound maybe seen.
Nickel
Thin volume trades seen.
Zinc
Rebound above 215.60 may strengthen the prices for the day. Weakness may be seen below 211.60 region.
Lead
Range bound trades may be seen. Rebound above 183.30 may strengthen the prices.
Aluminium
Mild weakness may be seen if prices dip below 194.20. Rebounds are possible if the same support level is held.
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