Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 19 April 2022 By Geojit Financial
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BULLION
GOLD
Intraday weakness may trigger only by decisive trades below 52900 region. Else could retain broad buying sentiments towards the upside objective of 53520.
SILVER
Prices need to claim above the upside obstacle of 70800 to initiate further buying in the session ahead. Botched attempt to mark such trades may push prices lower.
ENERGY
CRUDEOIL
By breaking off the downside hurdle of 8020 could trigger fresh selling in the upcoming session. Else hold the same for prices to turn higher towards 8300 region.
NATURAL GAS
Intraday long liquidation move may not persist unless prices sustained below 569 region and such recovery trades may push prices to 600 region. On the other hand, a vertical fall below 569 may call fresh long liquidation move.
BASE METALS
COPPER
Witnessing weakness likely to gain support around 829 region for prices to rebound higher. But a corrective fall which rest below the same may induce weakness to counter.
NICKEL
Price consolidation still progressing and possibly to float with in the trading range of 2300-2600. Prices yet to come out either side of the aforesaid region to set fresh directional move.
ZINC
Witnessing long liquidation move may persist towards the downside objective of 373 or even lower . Even in this long liquidation, determined trades which reclaim above 380 may be a sign of broad buying to continue.
LEAD
If prices remain below the upside hindrance of 190.80 region may anticipate intraday weakness towards 185. But challenging trades above 190.80 may lift prices higher in the later session.
ALUMINIUM
Intraday weakness may be seen only by decisive trades below 272 region. Which if remain undisturbed could boost prices further higher.
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