Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 07 October 2021 By Geojit Financial
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BULLION
GOLD
Prices still have potential to gain higher if prices stay above the 46580 region. But a vertical fall which break below the previously mentioned region may invite fresh selling.
SILVER
Intraday move is expected to be northbound if prices float above 60900 region. In this bullish sentiments, a corrective fall which close below the same may negate our buying expectation.
ENERGY
CRUDEOIL
As long as prices stay below the upside hindrance of 5780 region could expect prices to turn lower . Although upsurging trades above the same could lift prices higher.
NATURAL GAS
Next phase of weakness may be seen only by determined trades below 402 region. Failed to reach out below the same would a sign of price rebound in the upcoming session.
BASE METALS
COPPER
Witnessing buying sentiments possibly to uphold in the upcoming session if prices stay above 709 region. But a corrective fall which slip past below the same may induce fresh selling.
NICKEL
Witnessing buying sentiments possibly to stretch higher in the session to come. Even in this positive picture, a corrective fall which slip below 1402 may dent our buying sentiments.
ZINC
Intraday move is expected to be north bound and such emerging buying trend may test 259 or even more. But a corrective fall which claim below 255 may squeeze down prices lower.
LEAD
Prices clearly held the Bollinger lower band level of 179.40 region in early session. If the above-mentioned region remain undisturbed could anticipate intraday buying move, Else could push prices lower.
ALUMINIUM
Ensuing buying sentiments may persist in the upcoming session if prices stay above 233.20 region. But a direct fall below the same may bid fresh long liquidation move
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