Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 23 August 2021 By Geojit Financial
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BULLION
GOLD
Prices likely to trade within the trading range of 46950-47320 region. A firm move which breaks either side of the above-mentioned region could set off fresh directional move.
SILVER
Prices have been nearing towards the upside hurdle of 62980 region. If the above-mentioned region gives way could boost intraday price recovery move. Else hold the same for further corrective move.
ENERGY
CRUDEOIL
Present recovery move may not extend if prices failed to challenge above the immediate hurdle of 4820 region. Botched attempt to crack above the same may be sign of further weakness.
NATURAL GAS
Intraday move is expected to be southbound. Even in this bearish expectation if prices claim above the 294.50 may induce fresh buying in the coming session.
BASE METALS
COPPER
Present recovery move may not gain momentum if prices stay below 712 region. But solid trades above the recommended region could lift prices higher to 716 or even more.
NICKEL
Present price recovery move may not persist unless prices stay above 1452 region. Inability to mark solid trades above the same may be sign of further long liquidation move in the later session.
ZINC
Intraday buying may withstand only by tangible trades above 248.30 region. If the respective region remain untouched could expect prices to trade lower in the later session.
LEAD
Prices have been approaching towards the Bollinger middle band level of 178.20 region. Break below the same may bid fresh selling in the coming session. Else hold the same for prices recovery for later session.
ALUMINIUM
If prices remain above the downside hurdle of 206.20 region could expect prices to trade higher. But a surprise fall below the same may induce fresh selling in the coming session.
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