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Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 23 June 2021 By Geojit Financial
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BULLION
GOLD
Successful trades above 47140 would be a sign of short covering move in the later session. Botched attempt to crack above the same may squeeze down prices further lower.
SILVER
Prices have been consolidating after recent steep fall. In this perplexing situation, if prices remain below the upside hurdle of 68600 could expect further weakness . Although rise above 68600 may push prices higher.
ENERGY
CRUDEOIL
Next stage of buying may witness only by solid trades above 5485 region. Failed to sustain such move may be a sign of long liquidation move in the upcoming session.
NATURAL GAS
Broad buying sentiments likely to persist in the coming session if prices stay above the 239.40 region. Even in this positivity, prices dip below the same may bid fresh selling in the coming session.
BASE METALS
COPPER
As long as prices 713.50 could expect prices to stretch its recovery move. But a sudden fall below the same may eventually push prices lower.
NICKEL
Intraday move is expected to be north bound if prices stay above the downside hurdle of 1313 region. But a surprise fall which challenge below the same may be a sign of intraday weakness.
ZINC
Solid trades above the upside obstacle of 234.80 could boost prices higher. Inability to claim such move would be a sign of long liquidation move in the upcoming session.
LEAD
As long as prices remain below the upside obstacle of 172.40 region could expect prices to turn lower. However, a direct rise through above mentioned region could boost prices higher.
ALUMINIUM
Prices have been approaching towards downside obstacle of 189.40 region. Break below the same may bid further weakness. Else hold the same for a prices rebound in the coming session.
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