Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 21 October 2022 By Geojit Financial
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BULLION
GOLD
Technical Commentary
Intraday price recovery may establish only by decisive trades above 49980 region. Botched attempt to close above the same may push prices further lower.
SILVER
Slippage past 55700 could extend current weakness further. Else hold the same for prices to retreat higher to 57000 region
CRUDEOIL
Intraday price recovery may be seen only by tangible trades above 7120 region. Which if remain undisturbed could expect further weakness to 6840 or even more.
NATURAL GAS
Simmering weakness may largely to continue. However, as prices at an overbought situation there is an equal chance of a price rebound if prices held above 418.
BASE METALS
Copper
As long as prices stay above the downside hindrance of 645 region could expect prices to trade higher. But a corrective dip below the same may eventually push prices lower.
Zinc
As long as prices remain above the Bollinger middle band level of 272 region could expect prices to gain higher. But a direct fall below the same may induce fresh selling.
Lead
Weakness still intact and possibly to extend towards the downside objective of 175 or even lower. Although recovery trades above 179.20 could boost prices higher.
Aluminium
Intraday weakness may continue in the session ahead towards the downside objective of 195 region followed by 192.80 region. Even in this weak bias, recovery trades above 199 could lift prices higher
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