Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 05 May 2021 By Geojit Financial
BULLION
GOLD
If prices remained below the upside obstacle of 47270 may expect a long liquidation move in the coming session. But decisive move above the same may grab prices lower
SILVER
As long as prices stay above the Bollinger middle band level of 68400 could boost prices higher. But a vertical fall through the same may squeeze down prices lower.
ENERGY
CRUDEOIL
Dominant buying sentiments largely to in the upcoming session if prices stay above 4830 region. On the other hand, dip below the aforementioned region may dent our buying sentiments.
NATURAL GAS
By claiming above the upside hindrance of 223 could would be a sign of broad buying to continue. Failed to mark such trades may push prices lower.
BASE METALS
Copper
Broad bullish sentiments still intact and possibly to extend further. But a corrective move which settle below 761 may be sign of intraday weakness.
NICKEL
Decisive trades above 1356 would trigger fresh buying in the coming session. But failed to activate such trades may eventually push prices lower.
BASE METALS
Zinc
Prices yet to take off above the hourly Bollinger upper band level of 237.60 for a major buying. Else hold the same for weak bias.
Lead
Prices still have the scope further gains and such emerging trades may scale higher. Although, a sudden fall below 173.80 may bid a corrective downside move.
BASE METALS
Aluminium
Sustainable trades above the upside hindrance of 196.70 region could bid fresh buying . Inability to mark such trades may be a sign of long liquidation mov
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer