Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 11 November 2021 By Geojit Financial
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BULLION
GOLD
Established buying sentiments may extend in the later session if prices stay above 48960 region. But an unexpected fall below the same may be a sign of profit booking.
SILVER
Present technical chart formation suggest previous session bullish move likely to progress further towards 67200 or even more. In this buying sentiments, a vertical fall below 65800 may be a sign of intraday weakness.
ENERGY
CRUDEOIL
Witnessing recovery move may not persist unless prices reclaimed above 6180 region. Else hold the same for a further downside corrective move in the later session.
NATURAL GAS
Recovery trades above the upside hindrance of 378 could trigger fresh recovery move in later session. Inability to mark such trades may be a sign of further weakness in the later session.
BASE METALS
COPPER
Intraday buying may withstand only by tangible trades above 742 region. Which if remain undisturbed could expect prices to trade towards the downside objective of 730 or even lower.
NICKEL
Sustained trades above the immediate hindrance of 1534 could be a sign of fresh buying in the upcoming session. Failed to challenge above the same may bid long liquidation move in the later session.
ZINC
Prices still have room for price recovery if prices stay above the 278.80 region. Even in this positive sentiments, a direct fall below the same may induce fresh selling in the upcoming session.
LEAD
Intraday move is largely to be northbound as long as prices float above the downside hurdle of 188 region. On the flipside, a corrective move which slip below the same may induce fresh selling.
ALUMINIUM
Present recovery move is expected to strengthen in the upcoming session if prices stay above 208.80 region. Although a surprise fall below the same may bid fresh selling in the upcoming session.
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