Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 17 March 2022 By Geojit Financial
BULLION
GOLD
Intraday move is expected to be northbound if prices stay above 51300 region. Even in this positive outlook, a surprise fall below the same may squeeze down prices lower.
SILVER
Reclaiming trades above 68950 would be sign of fresh buying in the session ahead. Failed to move past above the same may eventually push prices lower in the later session.
ENERGY
CRUDEOIL
Prices to challenge above the upside hurdle of 7620 to trigger fresh recovery move in the session ahead. Botched attempt to mark such trades may push down prices lower.
NATURAL GAS
By breaking off the upside hindrance of 365 could boost prices further higher. Else hold the same for prices to turn lower towards 352.
BASE METALS
COPPER
Major price rally only could see only by decisive trades above 808 region. Which if remain undisturbed may be sign of further weakness in the later session.
NICKEL
Present long liquidation move largely to persist towards the price objective of 2450 or even lower. But retreating trades above the 2820 may push prices further higher
ZINC
Intraday move is expected to be northbound if prices stay above 315.50 region. But there is equal plausible chance of a corrective fall if prices claim below the same.
LEAD
Prices need to sustain above 184 region to initiate fresh recovery move in the session ahead. Inability to mark trades above the same may push prices lower.
ALUMINIUM
Witnessing buying sentiments may strengthen towards the upside objective of 268 or even more to 271. A corrective fall below 264 may be a sign of weakness.
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