Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 18 May 2021 By Geojit Financial
BULLION
GOLD
By breaking the upside hurdle of 48530 could boost prices further higher. Else hold the same for a downside corrective move which may push prices lower.
SILVER
Further rallies could be seen in the coming session as long as prices flat above 73100. In this bullish picture, a downside corrective move which claim below the same may bid fresh selling for today.
ENERGY
CRUDEOIL
Established buying may gain pace if prices stay above 4840 region. But a vertical fall though the same may invite fresh selling for today’s session.
NATURAL GAS
Witnessing buying sentiments may strengthen in the session to come. Although a surprise fall below 223 may be sign of intraday weakness.
BASE METALS
Copper
Customary buying sentiment likely to persist and extend higher. But a corrective dip below 783 may be a sign of a downside corrective move.
NICKEL
Prices still have room for gains in the coming session if prices stay above the 1318 region. On the other hand, a direct fall below the same may be a sign of intraday weakness.
Zinc
Ensuing buying sentiments likely to uphold in the coming session. In this bullish note, a surprise fall below 239 may dent our intraday buying sentiments.
Lead
Early price dips could be possible, but likely to rebound higher if prices float above 174 region. However, a corrective move below the same may grab prices lower.
Aluminium
If prices remain below the upside obstacle of 200 region could anticipate a long liquidation move. But break above the same could lift prices higher.
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