Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 05 February 2021 By Geojit Financial
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BULLION
GOLD
Major price recovery may be seen only with significant trades above 47360 region. If not, can anticipate broad weakness to persist in the later session
SILVER
Prices clearly held the Bollinger middle band level of 67000 region. Which if remain undisturbed could lift price higher.
ENERGY
CRUDEOIL
Ensuing buying sentiments would possibly persist. Even though, a corrective fall through which sustained below 4110 may be sign of a long liquidation move .
NATURAL GAS
By breaking the upside hindrance of 224 could boost prices higher. Else hold the same for a downside corrective move in the later session.
BASE METALS
Copper
Technical Commentary Ensuing buying sentiments likely to uphold in the upcoming as long as prices hold the downside obstacle of 599 region. But a vertical fall through 599 may grab prices lower.
NICKEL
Decisive trades above 1310 may boost prices further higher. Else hold the same for a corrective downside move towards the previous session price levels.
BASE METALS
Zinc
Prices have been approaching towards the EMA level of 213.50 region. Which if breaks could extend present buying to continue. Inability to crack above the aforementioned region may set off a long liquidation move.
Lead
If prices remained above the Bollinger middle band level of 164.30 could expect prices to trade higher. Although a sudden fall below the same may bid a corrective move lower.
BASE METALS
Aluminium
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