Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 11 July 2023 By Geojit Financial
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BULLION
Gold
MACD bullish divergence suggest mild positivity. Sustained trades above 58700 may strengthen the prices further. However, unexpected dip below the trend line support of 58040 may induce weakness in the counter.
Silver
Steady gain above 71600 may strengthen the prices. Whereas, a dip below 70700 may weaken the prices as well.
ENERGY
Crude Oil
MACD bullish divergence suggest positivity. Prices may further strengthen above 6100 region. Whereas, a dip below 5970 may induce weakness for the day.
Natural Gas
Range bound moves expected. A dip below 216 region may induce mild weakness. Steady gains above 224 may strengthen the prices for the day.
BASE METALS
Copper
Prices may appear firmer above 728.60 region. Else, mild corrective moves may be seen in the day.
Nickel
Thin volume trades seen.
Zinc
Sustained trades above 214.70 region may strengthen the prices. Whereas, a dip below the same may induce mild weakness.
Lead
Range bound trades may be seen. Rebound above 183.30 may strengthen the prices. Weakness expected below 180.50.
Aluminium
Extended gains above Bollinger mid-band region of 198.30 would strengthen the prices. Else, mild corrective moves may be seen.
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