Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 07 July 2023 By Geojit Financial
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BULLION
Gold
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
Dip below 70280 may strengthen the prices further. While a gain above 71600 may strengthen the prices.
ENERGY
Crude Oil
MACD bullish divergence suggest mild positivity. Prices may further strengthen above 6000 region. Whereas, a dip below 5860 may induce weakness for the day.
Natural Gas
Range bound moves may be seen in the intraday. A dip below 216 region may induce mild weakness. Steady gains above 224 may strengthen the prices for the day.
BASE METALS
Copper
Extended gains above 724 region may strengthen the prices, while holding the same resistance may induce mild weakness.
Nickel
Thin volume trades seen.
Zinc
Prices may appear firmer above 216.30 region on the trend line. Whereas, if prices could not break the same resistance, mild correction may also be seen.
Lead
Range bound trades may be seen. Rebound above 183.30 may strengthen the prices. Weakness expected below 180.50.
Aluminium
Extended gains above 196 region would strengthen the prices. Mild weakness may be seen if prices dip below 194.
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