Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 19 March 2021 By Geojit Financial
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BULLION
GOLD
Prices still trapped in the previous days of congestion region with lack of direction in trades. But strong trades above the 45200 could cajole fresh buying in the coming session. Else could expect prices to tick lower
SILVER
As long as prices remain above the downside obstacle of 66700, it could lift prices to higher levels. Else hold the same for a price rebound in the coming session.
ENERGY
CRUDEOIL
Present gains less likely to persist if prices stayed below the hourly Bollinger middle band level of 4540 region and weakening may find lower supports. But decisive move which sustained above the 4540 could lift prices higher
NATURAL GAS
Intraday move largely to be northbound if prices remained above 177 region. But slippage below the aforementioned region may bid the continuation of broad selling sentiments.
BASE METALS
Copper
Intraday price recovery may be seen only by solid trades above 669 region. Else hold the same for further downside corrective move in the coming session.
NICKEL
Prices have been consolidating in previous sessions range with wild moves. So if prices remained above 1140 could expect a price rebound. Weakness may be seen only below 1140.
BASE METALS
Zinc
If prices remained below the SMA level of 217.40 could expect prices to slip lower. But a direct rise above the same could rule out weakness expectations.
Lead
Prices have been nearing to SMA level of 161.90 region. Break above the same would be a sign for next stage of buying in the coming session.
BASE METALS
Aluminium
Prices clearly got the support from the Bollinger middle band level of 173.50 region in today’s session. Which if remained uninterrupted could drive prices further higher.
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