Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 08 October 2021 By Geojit Financial
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BULLION
GOLD
Current buying sentiments may find momentum only by decisive trades above 46980 region. Failed to mark such trades may be a sign of price correction in the upcoming session.
SILVER
Prices still hesitate to flourish above the upside hindrance of 61800 region, Which if remain undisturbed could expect further weakness . But conclusive trades above the same may boost prices higher.
ENERGY
CRUDEOIL
Technical Commentary Present long liquidation move may not persist unless prices settled below 5860 region. Botched attempt to challenge below the same may invite fresh buying in the upcoming session.
NATURAL GAS
Present selling pressure possibly to hold the downside support level of 414 region for a price rebound to higher level. On the other hand, by breaking off the same may induce fresh selling.
BASE METALS
COPPER
Present corrective move may withstand only by decisive trades below the downside hurdle of 722 region. Else hold the same for a price rebound in the later session
NICKEL
Early dips can be expected to trigger fresh buying in the coming session. But a corrective fall which slipped below 1448 may be sign of long liquidation move.
ZINC
Ensuing buying sentiments likely to uphold if prices stay above the downside hurdle of 261 region. In this positive sentiments, a surprise fall which claim below 261 may diffuse intraday buying.
LEAD
As long as prices remain above the downside hurdle of 181 region could expect prices to trade higher. But a corrective move which settle below the same may push prices lower.
ALUMINIUM
Broad buying likely to progress in the upcoming session. Although a corrective move which settle below 234.60 may grab prices lower.
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