Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 15 June 2022 By Geojit Financial
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BULLION
GOLD
As long as trades sustain above the support of 50180 on the Bollinger band, possibility of major weakness may ruled out. Whereas voluminous dip below the same may induce weakness as well.
SILVER
Converging MACD lines rule out the possibility of directional moves in prices. However, prices may appear firmer above the Bollinger mid-band resistance of 61820 region.
ENERGY
CRUDEOIL
Bearish crossover in MACD lines suggest the possibility of weakness in the prices. Prices may appear weaker with a voluminous dip below 9040 region on the Bollinger mid-band support. Whereas holding the same region, prices may exhibit mild rebounds as wel
NATURAL GAS
Bearish divergence in MACD suggest weakness prevail in the counter. However, next phase of selling would sustain only below 552.20 region on the trend line. Else, mild rebounds may be seen in the intraday.
BASE METALS
COPPER
Bearish divergence in MACD lines suggest the prevalence of weakness in the counter. Prices may edge lower towards 752.40 region or even lower in the intraday. However, major weakness is expected only below 742 region on the trend line support region.
NICKEL
Range bound moves with mild weakness is expected in the prices.
ZINC
As long as trades sustain above the support of 308.30 on the trend line, possibility of major weakness can be ruled out. While a steady trade above Bollinger upper band resistance of 318.10 could strengthen the prices as well.
LEAD
Solid trades above 185.30 may strengthen the prices. A dip below the Bollinger lower band support of 181 may induce weakness for the intraday.
ALUMINIUM
MACD bearish crossover suggest the prevalence of weakness. However, next phase of selling is expected only below 217.10 region. A rebound above 224.50 may strengthen the prices for the intraday as well.
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