Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 28 May 2021 By Geojit Financial
BULLION
Major weakness may be witnessed only by breaking the downside obstacle of 48220 region. However, failed to claim below the same may call fresh buying in the coming session.
SILVER
Major buying may be seen only above 71800 region. Else hold the same for a downside corrective move in the later session.
ENERGY
CRUDEOIL
Ensuing buying sentiments likely to uphold in the coming session. In this positive note, a corrective fall below 4810 may be a sign of downside fall in the coming session.
NATURAL GAS
If prices stay above the downside hindrance of 212 region could expect prices to gain higher. However, a surprise fall below the same may be a sign of bearish sentiments.
BASE METALS
Copper
As long as prices stay below the upside hindrance of 764.80 region could expect further weakness. But rise above the same could trigger fresh buying in the coming session.
NICKEL
Next stage of weakness may establish only by tangible trades below 1288 region. Inability to challenge below the same may push prices higher in the session to come.
Zinc
Further weakness may be seen only below the downside obstacle of 234.70 region. Which if remain undisturbed could bid a recovery move in the later session.
Lead
Intraday move is largely to be south bound if prices stay below 173 region. But in this bearish sentiments recuperating trades above the same could boost prices higher.
Aluminium
If prices remained below the Bollinger middle band level of 195.30 could anticipate a downside corrective move. Although retreating trades above the same would increase the chances of a price recovery move.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer