Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 03 June 2022 By Geojit Financial
BULLION
GOLD
By breaking off the upside hindrance of 51400 would boost prices higher in the later session. Else could anticipate weakness on the counter.
SILVER
A direct rise above 63300 would be a sign of fresh buying towards the 63900 or even more. Other wise we could see intraday weakness by holding the upside hurdle of 63300.
ENERGY
CRUDEOIL
Prices need to take off above the upside hindrance of 9090 to boost prices further higher. Inability to achieve such trades may bid long liquidation move in the later session.
NATURAL GAS
Prices have been approaching towards the downside 639 region, below which weakness may extend. Botched attempt to mark such trades may eventually lift prices higher.
BASE METALS
COPPER
Prices still have room for gains towards the objective of 813 or even more. Even in this positive sentiments a surprise fall below 802 may negate our buying sentiments.
NICKEL
Prices possibly to trade higher in the session ahead towards the upside objective of 2340 or even more. But a corrective dip below 2270 may dent our buying expectation.
ZINC
Weakness may persist towards the downside objective of 334 or even lower to 331. Although recovery trades above 338.60 would be a sign of intraday buying.
LEAD
Intraday weakness may be seen only below 183.70 region. If the abovementioned remain undisturbed could expect prices to rebound higher in the session ahead.
ALUMINIUM
Intraday price recovery may trigger only by determined trades above 235.60 region. Else could expect prices to slip further in the session ahead towards 230.
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