Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 27 July 2022 By Geojit Financial
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BULLION
GOLD
Prices possibly to continue consolidation within the trading range of 50400- 50900. Price yet to come out either side of the aforesaid region to set off fresh directional move
SILVER
Initial price dips can be seen before initiating fresh recovery move towards the objective of 56300 or even higher. Although a corrective fall below 54950 may dent our buying expectation.
ENERGY
CRUDEOIL
Weakness may largely to continue towards the downside objective of 7550 or even lower to 7490. Even in this weak bias, recovery trades above 7760 may lift prices higher.
NATURAL GAS
A vertical fall below 684 may be a sign of intraday weakness. Which if remain untouched could trigger fresh recovery in the session ahead.
BASE METALS
COPPER
As long as prices stay 630 region could expect intraday price recovery. But a surprise fall below the same may push prices lower in the later session.
NICKEL
Broad consolidation likely to progress with thin trades.
ZINC
By breaking off the upside hindrance of 278.40 could boost prices higher in the later session. Failed to achieve such trades may eventually push prices lower in the later session.
LEAD
Solid trades above 178.50 would be a sign of fresh buying in the session ahead. Else hold the same for a long liquidation move in the session ahead.
ALUMINIUM
Slippage below 209 would be a sign of weakness. Else hold the same for prices to rebound higher in the later session.
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