Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 02 November 2021 By Geojit Financial
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BULLION
GOLD
Prices need to be cleared above the upside hindrance of 48030 to trigger fresh buying in the upcoming session. Else hold the same for prices to slip lower.
SILVER
Resurging trades above the upside hindrance of 65300 would be a sign of fresh buying in the upcoming session. Botched attempt to challenge above the same could expect choppy trades with negative bias.
ENERGY
CRUDEOIL
Broad buying still intact and possibly to stretch gains in the upcoming session. Although a surprise fall which claim below 6220 may be a sign of an intraday weakness.
NATURAL GAS
Present recovery trades may gain momentum only by decisive trades above the upside hurdle of 403 region. Else could expect further weakness towards the downside objective of 390 or even more.
BASE METALS
COPPER
Prices possibly to rebound higher if prices stay above the downside obstacle of 737 region. But there is equal plausible chance of a long liquidation move if prices settle below the same.
NICKEL
Intraday move is expected to be northbound as long as prices float above 1485 region. But a corrective move which settle below the same may induce fresh selling in the upcoming session.
ZINC
Prices likely to consolidate with in the trading range of 280.50 - 284.40. A firm move which breaks either side of the mentioned region could set the directional move.
LEAD
If prices remain above the downside hurdle of 185.60 region could entice fresh buying in the upcoming session. But a corrective move which slip below the same may be a sign of intraday weakness.
ALUMINIUM
Prices have been consolidating since last few days after recent corrective fall. Looking ahead, if prices remain above the downside hurdle of 214 region could bid fresh recovery move in the later session.
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