Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 08 April 2022 By Geojit Financial
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BULLION
GOLD
Firm trades above 51980 would strengthen the buying momentum in the upcoming session. Else could expect prices to consolidate with negative bias.
SILVER
Bullish divergence in MACD lines suggest the possibility prevailing uptrend, while the prices may appear firmer above trendline resistance level of 67270 region. Meanwhile, inability to break above the same may induce mild correction.
ENERGY
CRUDEOIL
Prices may find resistance near Bollinger upper band resistance of 7490 region, above the same region prices may appear firmer. Meanwhile, inability to break above the same region could induce weakness.
NATURAL GAS
Positivity still prevail in the counter as the bullish divergence in MACD oscillators suggest. But to continue the gains further, prices need to challenge above Bollinger upper band resistance of 493 region. Meanwhile, any unexpected dip below 474 region may induce weakness.
BASE METALS
COPPER
Diverging MACD lines after bullish crossover suggest the possibility of further gains, however, prices necessarily have to break above the trendline the resistance of 824 level to continue to trade higher.
NICKEL
Prices continue in the consolidation state within the trading range of 2600- 2300. A firm move which breaks either side of the aforementioned region may set out directional move.
ZINC
Sustained trades above Bollinger upper resistance of 357 region could strengthen the prices. Else, mild consolidation or correction may be witnessed.
LEAD
Strong upward movement can be expected only above Bollinger upper band region of 187.30, while a corrective dip below 185.40 may weaken the prices.
ALUMINIUM
Prices may appear firmer above the trendline resistance of 281.80 region. Whereas holding the same could induce mild correction.
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