Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 24 June 2021 By Geojit Financial
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BULLION
GOLD
Major buying may activate only by promising trades above 47140, else hold the same for a further weakness in the coming session.
SILVER
Prices still in a consolidation mood since last few days with mild moves. Looking ahead, if prices stay above the downside obstacle of 67100 could boost prices higher. A direct fall through the same may be a sign of intraday weakness.
ENERGY
CRUDEOIL
Broad buying still intact and largely to continue in the coming session. But there is equal plausible chance of a long liquidation if prices close below the downside support level of 5375 region.
NATURAL GAS
Customary buying sentiments possibly to scale higher in the coming session if prices stay above the 243.50 region. But an unexpected fall through the same may be sign of long liquidation move.
BASE METALS
COPPER
Next stage of weakness may be seen only below the downside obstacle of 715.50 region. Which if remain undisturbed could expect prices to turn higher in the coming session.
NICKEL
Prices still have room for further gains if prices stay above the 1332 region. However, surprise fall below the same may eventually push prices lower in the coming session.
ZINC
Decisive move above the immediate obstacle of 235.80 could lift prices higher. Failed to achieve trades above the same may be a sign of intraday weakness in the coming session.
LEAD
If prices remain below the upside obstacle of 173 region could expect prices to turn lower. But retreating trades above the same could boost prices higher.
ALUMINIUM
As long as prices remain below the Bollinger middle band level of 194.20 could expect further weakness in the coming session. But retreating trades above the same may release fresh selling.
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