Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 20 April 2021 By Geojit Financial
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BULLION
GOLD
Major weakness may kick off only below 46600 region. Otherwise could anticipate present price recovery to persist towards the previous session levels.
SILVER
Prices possibly to float within the previous session’s trading range. But a firm move which breaks either side of the trading range of 69000-67800 could set the direction.
ENERGY
CRUDEOIL
Customary buying sentiments likely to uphold. On the flipside, a direct slip below 4740 may be sign of long liquidation move.
NATURAL GAS
Early price dips are possible but need to sustain below the 200 for a downside corrective move. If not, a broad price recovery may continue in the counter.
BASE METALS
Copper
A long liquidation move likely to progress if prices remained below 731 region. But a vertical rise which settle above the same may lift prices higher.
NICKEL
Prices still holding the downside obstacle of 1208 region. If the above mentioned region remain undisturbed could expect broad buying to continue.
BASE METALS
Zinc
Decisive trades above 232 could boost prices further higher. Inability to challenge above the same may be a sign of intraday weakness may take price lower
Lead
Witnessing buying possibly persist in the session to come. But a reversal move which close below 166.10 may be a sign of intraday weakness.
BASE METALS
Aluminium
Major buying may withstand only above 191 region. Else hold the same for a downside corrective move which may scale down prices lower.
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