Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 02 July 2021 By Geojit Financial
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BULLION
GOLD
Revisiting trades below 47180 may be sign of intraday weakness. Else retain present buying sentiments and help prices to take off further higher.
SILVER
Like we said last, prices need to challenge above 70500 region for stable buying move. Inability to sustain above the same would be a sign of downside corrective move.
ENERGY
CRUDEOIL
If prices stay above 5565 could trigger further buying in the coming session. However, in this dominant buying picture , a corrective fall through the same may be a sign of downside corrective move.
NATURAL GAS
Prices still have room for further upside gains. Even in this bullish picture, a surprise fall below the downside obstacle of 268 for a downside corrective move.
BASE METALS
COPPER
Intraday momentum is expected to be negative if prices remain below the 725 region. On the other hand, a direct rise above the same may ignite fresh buying on the coming session.
NICKEL
Intraday move is expected to be choppy with range trades. However, if prices stay above the 1344 could retain broad buying towards the previous session high.
ZINC
Prices possibly to stretch lower as long as prices stay below the upside obstacle of 239 region. Even in this bearish sentiments, price swing above aforementioned region could set off fresh buying in the later session.
LEAD
Broad buying likely to continue in the coming session but need to challenge above the upside hurdle of 180 to activate such trades. If not, would be a sign of long liquidation pressure towards lower.
ALUMINIUM
Ensuing buying sentiments possibly to strengthen if prices remain above the downside obstacle of 198 region. Although a direct fall below the same push prices lower.
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