Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 30 August 2022 By Geojit Financial
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BULLION
GOLD
Witnessing selling sentiments may extend towards the downside objective of 50640 or even more.But retreating trades above 51040 would negate our weak bias.
SILVER
Consecutive days of weakness may stretch lower towards the downside objective of 54800/54150 However , a direct rise which sustain above 55900 could boost prices higher.
CRUDEOIL
Determined trades above 7610 may lift prices higher in the session ahead. Failed to challenge above the same may bid a long liquidation move.
NATURAL GAS
As long as prices stay below 752 could expect weakness to continue towards 708 or even more. But decisive trades above 752 may call recovery move in the later session.
BASE METALS
Copper
Present bearish sentiments may persist in the upcoming session. Although recovery trades above 667 may dent our weak sentiments.
NICKEL
Life less trades may continue with mild negativity.
Zinc
Intraday move largely to be south bound if prices stay below 317 region. But recovery trades above the same may push prices higher.
Lead
Consolidation likely to continue with in the trading range of 178-181.50. A firm move which breaks either side of the aforesaid region to set off fresh directional move.
Aluminium
Weakness may continue towards the Bollinger lower band level of 207.80 or even lower in the session ahead. But reclaiming trades above 212 may lift prices higher
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