Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 05 July 2021 By Geojit Financial
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BULLION
GOLD
Next phase of price recovery is possible only by tangible trades above the upside hindrance of 47580 region. If the aforementioned region remain untouched could expect intraday weakness.
SILVER
Previous session buying spree may prolong only by tangible trades above the 70900 region. Failed to achieve trades above the same may eventually bid a long liquidation move
ENERGY
CRUDEOIL
If prices win above the upper Bollinger band level of 5690 region could boost up prices further higher. Inability to claim above the same may bid a corrective move in the upcoming session.
NATURAL GAS
Present technical chart formation point to further price gains, however, prices need to sustain above the 281 to activate such trades. Or else hold the same for a downside corrective move.
BASE METALS
COPPER
Witnessing buying move may largely uphold if prices stay above the downside hurdle of 726 region. But a corrective move below the same may gradually push prices lower.
NICKEL
Diverging MACD lines suggest mild positivity. However, prices need to sustain above 1386 region for intraday buying. Whereas a dip below 1366 may weaken the prices.
ZINC
Prices seem to narrow down in the previous few sessions’ trading range with mild dips and rebounds. Next stage of buying is expected only above 244 region.
LEAD
Diverging MACD oscillators suggest prevailing positivity in the counter. However, prices necessarily break above 181.90 to continue higher. Holding any of the resistance levels may induce correction.
ALUMINIUM
Buying momentum seen gradually slowing as it nears the upside hindrance of 203.80 region. A break above the same region can push prices further higher, or else, a corrective decline may be seen.
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