Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 12 August 2021 By Geojit Financial
BULLION
GOLD
Present price recovery still intact and possibly strengthen in the coming session. But there is equal plausible chance of corrective fall if prices settled below 46180 region.
SILVER
Price still in consolidation mood with mild positive bias. Although a surprise fall below the downside hindrance of 62200 may be sign of further weakness in the session to come.
ENERGY
CRUDEOIL
Early moves can expect to be higher but need to crack above the upside hurdle of 5220 region to initiate next phase of price recovery. Else hold the same may for a downside fall.
NATURAL GAS
Decisive trades above the upside obstacle of 305 may induce fresh buying on coming session. Botched attempt to challenge above the same may eventually push down prices lower.
BASE METALS
COPPER
By breaking the immediate hurdle of 742 may entice fresh buying on coming session. If the above-mentioned region remain undisturbed may be a sign of long liquidation move in the coming session.
NICKEL
Broad buying still intact and possibly to persist. In this positive bias, a surprise move below the downside hurdle of 1478 may push down prices lower int coming session.
ZINC
As long as prices stay above the downside hindrance of 250 region could boost prices further higher. But a direct fall below the same may be a sign of intraday weakness.
LEAD
Witnessing buying sentiments likely to uphold in the session to come. Even in this positive note, a surprise fall below 179.80 may grab prices lower.
ALUMINIUM
Established buying sentiments largely to continue if prices stay above 207.70 region. Even in this bullish sentiments a surprise fall below the same may dent our buying sentiments.
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