Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 17 December 2021 By Geojit Financial
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BULLION
GOLD
If prices remain above the downside support of 48380 could anticipate further buying in the session to come. Even in this positive outlook, an unexpected fall below 48380 may be a sign of intraday weakness.
SILVER
Previous session buying sentiments possibly to uphold towards the upside objective of 63100 or even more. Although an unexpected fall below 62200 may be a sign of intraday weakness.
ENERGY
CRUDEOIL
Present downside corrective move likely to extend in the upcoming session towards the 5370 or even lower. But determined trades above 5510 may be sign of fresh buying in the upcoming session.
NATURAL GAS
Weakness may persist in the upcoming session towards the downside objective of 275 or even lower. But a reversal move which sustain above 289 may be a sign of relief gains in the session to come.
BASE METALS
COPPER
Witnessing buying sentiments possibly to continue in the upcoming session if prices stay above 741 region. On the flipside, a long liquidation move which claim below the aforesaid region may set intraday weakness
NICKEL
Intraday move is expected to be downward trajectory if prices remain below 1562 region. Even in this bearish sentiments, successful trades above the same may boost prices further higher
ZINC
Previous days buying move likely to reinstate in the upcoming session if prices float above the downside support of 285 region. Although a vertical fall through the same may eventually push prices lower.
LEAD
Major buying move may trigger only by decisive trades above 187.20 region. Else hold the same for a downside corrective move in the later session towards 185.
ALUMINIUM
Further buying could trigger only above the upside hurdle of 221.80 region. Inability to challenge above the same may grab prices lower towards the downside objective of 218.80 or even lower.
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