Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 30 June 2021 By Geojit Financial
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BULLION
GOLD
Ensuing selling sentiments likely to extend lower as long as prices stay below 46730 region. In this bearish sentiments, decisive trades above the same may induce fresh buying on coming session.
SILVER
Prices still trapped in the consolidation region. However, if prices remain below the upside obstacle of 69100 could scale down prices lower. On the flipside, upsurge above the same could push prices higher.
ENERGY
CRUDEOIL
Next phase of price rally may initiate only above the upside hindrance of 5530 region. Inability to mark such trades may grab prices lower.
NATURAL GAS
Dominant buying sentiment still have room for further bullish move. However, as prices remain trading at an overbought place, there is equal plausible chance of a downside corrective if prices settle below 271 region.
BASE METALS
COPPER
Intraday price recovery may strengthen above only above 727 region. Which if remain untouched could expect prices to turn lower in the upcoming session.
NICKEL
Prices have been nearing towards the upside obstacle of 1390 region. If prices gain above the same would entice fresh buying. Else could expect a downside corrective move.
ZINC
Prices have been approaching towards the upside hindrance of 240.30 region. Break above the same could boost prices further higher, else hold the same for an intraday weakness.
LEAD
Ensuing buying sentiments largely to persist if prices remain above 177 region. On the other hand, a direct fall through the same may be a sign of long liquidation move.
ALUMINIUM
Ensuing buying sentiments likely to extend higher in the coming session. Although an unexpected fall though 198 may bid a downside corrective move in the coming session.
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