Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 16 November 2022 By Geojit Financial
Gold
Consecutive days of buying still intact and possibly to extend in the session ahead. Although a corrective dip below 52690 may dent our buying expectation.
Silver
Determined trades above 63300 may trigger fresh buying in the session ahead. Which if remain undisturbed may eventually push prices lower 61800/60250.
Crude Oil
Intraday weakness may further see only by tangible trades below 6960 region. Which if remain undisturbed could boost prices higher.
NATURAL GAS
Prices still trapped in a wide consolidation range. Early declining trades can be an opportunity for buyers to engage in participation. But close below 470 may push prices lower.
Copper
As long as prices stay above the downside obstacle of 689 region could expect further rallies in the session ahead. On the flipside, a vertical fall below 289 may squeeze down prices lower.
Nickel
Present buying sentiment may uphold with moderate trades.
Zink
Determined trades which sustain above the Bollinger upper band level of 280.60 could boost prices higher. However, there is equal plausible chance of a corrective dip if prices unable to sustain above 280.60.
Lead
As long as prices stay above the downside hurdle of 184.60 could boost prices further higher. But a corrective fall below the same may call a long liquidation move.
Aluminium
As long as prices stay below the upside hindrance of 212.50 region could expect a long liquidation. But reclaiming trades above the same may bid fresh buying in the session ahea
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