Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 17 August 2022 By Geojit Financial
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BULLION
GOLD
A direct fall below the downside hindrance of 51680 may be sign of further weakness in the session ahead. Inability to achieve such trades may call fresh buying.
SILVER
Current weakness may stretch lower towards the objective of 57650 or even lower. Even in this bearish expectation, a direct rise above 58600 may invite fresh buying.
CRUDEOIL
Prices still have room for weakness in the session ahead. However, rebounding trades above 6990 may invite fresh recovery move.
NATURAL GAS
Present buying sentiments largely to uphold in the upcoming session towards the upside objective of 760 or even higher. Even in this bullish outlook, a corrective fall below 728 may call long liquidation move.
BASE METALS
Copper
Further weakness may activate only by decisive trades below 659 region. Which if remain undisturbed could bid fresh buying in later session.
NICKEL
Consolidation largely to persist with marginal trades.
Zinc
Prices likely to trade northbound with wild moves. Although a corrective dip which claim below 318 may eventually push prices lower.
Lead
Consolidation likely to continue within the trading range of 182.50-185.50. A firm move which breaks either side of the aforesaid region could set the trend.
Aluminium
Major weakness may be seen only by tangible trades below 208 region. Inability to achieve such trades may induce fresh buying in the session ahead.
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