Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 05 April 2022 By Geojit Financial
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BULLION
GOLD
Bearish divergence in MACD oscillators does not rule out the possibility of weakness in the counter. However, major weakness can only see below 50760 on the rising trendline. Else, range bound trades may be witnessed.
SILVER
Diverging MACD lines after bearish crossover suggest possibility weakness. However, major weakness could be seen only below the Bollinger lower band support of 66130 region.
ENERGY
CRUDEOIL
As long as prices remain above the downside hurdle of 7420 could expect prices to trade higher. On the flipside, a corrective fall below the same may dent our buying expectation
NATURAL GAS
Diverging MACD oscillators after bullish crossover suggest the prevalence of positivity in the counter. However, next phase of upward movement could be expected only by sustained trades above the Bollinger upper band regions of 445. Else, mild corrections or consolidation may be seen.
BASE METALS
COPPER
Prices may appear firmer above the Bollinger upper ban resistance of 830.70, while holding the same resistance could induce corrective dips in the counter.
NICKEL
As seen yesterday, price sentiments seem positive but need to break above the upside hurdle of 2600 to persist broad buying. Inability to achieve such trades may eventually push prices lower
ZINC
Intraday trades expected to be range bound while any sustained trades above Bollinger upper band region of 360.60 may strengthen the prices. Whereas, holding the same resistance can induce corrective moves as well.
LEAD
Present corrective move may find support near 184.60 region while weakness may persist if prices slip below 184.60 level. Else, mild rebounds may be witnessed.
ALUMINIUM
Sustained trades above the trendline resistance of 281.60 could strengthen the prices. Whereas a dip below 277.70 may induce weakness.
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