Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 06 April 2022 By Geojit Financial
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BULLION
GOLD
Assertive trades which sustain above the 51760 could boost up prices higher. Failed attempt to challenge above the same would be a sign of weakness with consolidation.
SILVER
Intraday weakness may be seen only by tangible trades below the Bollinger lower band level of 65800 region. Inability to activate such trades could boost up prices higher in the later session
ENERGY
CRUDEOIL
Intraday move is expected to be northbound if prices remain above 7720 region. A corrective down fall below the same may induce fresh selling in the session ahead.
NATURAL GAS
Broad price outlook remain positive and such bullish move may test 472 or even higher. However, a corrective fall below 456 may dent our buying expectation.
BASE METALS
COPPER
Present buying likely to stay in momentum and possibly to stretch towards 826 firstly followed by 831. On the flipside, a surprise fall which settle below 818 may be a sign of weakness.
NICKEL
Region of 2600 looks to be formidable, which if break above could boost prices further higher. Else could expect mild consolidation with negative bias.
ZINC
Prices still have room for gains and possibly to extend towards the upside objective of 359. On the other hand, an unexpected fall below 353.30 may be a sign of intraday weakness.
LEAD
Reclaiming trades above the upside hindrance of 186 could invite fresh buying in the session to come towards the upside objective of 187.80 or even more. Failed to claim above 186 may squeeze down prices lower.
ALUMINIUM
Present buying sentiments possibly to extend towards the upside objective of 284 or even higher to 285.80 region. But a corrective fall below 279.50 may be a sign of intraday weakness
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