Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 19 August 2022 By Geojit Financial
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BULLION
GOLD
Intraday buying may be seen only by decisive trades above 51720 region. If prices failed to closed above the same may bid further weakness.
SILVER
Consecutive days of weakness may stretch lower towards the downside objective of 55800 or even lower. However, in this bearish expectation reclaiming trades above 57100 may push prices higher.
CRUDEOIL
A vertical price fall below 6970 may be a sign of weakness. Else hold the same for prices to turn higher towards 7270 region.
NATURAL GAS
A long liquidation move likely to progress if prices remain below 732 region. But retreating trades which sustain above the same may bid fresh buying in the session ahead.
BASE METALS
Copper
Witnessing buying sentiments largely to continue towards the upside objective of 684 or even higher. But a corrective fall below 666 may dent our buying expectation.
NICKEL
Consolidation possibly to continue today’s session as well with thin trades.
Zinc
Decisive trades above the upside hindrance of 319 could induce fresh buying in the session ahead. Failed to move past above the same may eventually squeeze down prices lower.
Lead
Determined trades above 184.40 could lift prices higher. Which if remain unharmed may grab prices lower.
Aluminium
Present weakness may strengthen only by tangible trades below 208 region. Inability to mark such trades may invite fresh buying in the session ahead.
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