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Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 18 April 2022 By Geojit Financial
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BULLION
GOLD
If prices stay above the downside support of 53080, it could boost prices further higher in the session ahead. Intraday weakness may be seen only by tangible trades below 53040 region.
SILVER
Witnessing buying sentiments possibly to extend higher in the session ahead towards 70550 or even more. But a direct fall below 69600 may be a sign of intraday weakness.
ENERGY
CRUDEOIL
Ensuing buying sentiments possibly to extend higher in the session ahead. On the other hand, an unexpected fall below 8030 may dent our buying expectation.
NATURAL GAS
Dominant buying sentiments possibly to stretch further higher in the session ahead. Even in this bullish price sentiments, there is equal plausible chance of a corrective fall if prices slipped below 564 region.
BASE METALS
COPPER
Present buying sentiments may strengthen only by tangible trades above the upside hindrance of 834 region. Inability to challenge above the same may bid long liquidation move in the later session.
NICKEL
Present consolidation move likely to continue as long as prices as prices stay within the trading range of 2600-2300. A firm move which breaks either side of the mentioned region could set the direction.
ZINC
Present buying sentiments likely to uphold towards the upside objective of 377 or even higher to 378.80. Although a corrective fall below 372.80 may squeeze down prices lower.
LEAD
Determined trades above the upside hindrance of 187.70 could boost prices higher in the session ahead. Which if remain undisturbed could expect prices to consolidate with negative bias.
ALUMINIUM
If prices remain below the downside hurdle of 271.80 region could expect prices to trades lower. However, a vertical rise which settle above the same may induce fresh buying in the session ahead.
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