Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 19 October 2021 By Geojit Financial
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BULLION
GOLD
Recouping trades above the immediate hurdle of 47540 could activate fresh buying in the upcoming session. If the above-mentioned region remain untouched could expect intraday price weakness.
SILVER
Observing buying sentiments possibly to gain pace in the upcoming session. Even in this bullish sentiments, slippage below 63600 may be a sign of intraday weakness.
ENERGY
CRUDEOIL
A long liquidation move possibly to generate if prices failed to rise above the upside hindrance of 6280 region. But a vertical rise above the same may lift prices further higher.
NATURAL GAS
Next phase of long liquidation move may trigger only by tangible trades below the downside obstacle of 363 region. Looking ahead, if prices remain above the same could bid rebounding trades higher.
BASE METALS
COPPER
Surpassing trades above the upside obstacle of 809 could trigger fresh buying in the later part of the session. Inability to mark trades above the same may gradually pull-down prices lower.
NICKEL
Witnessing bullish sentiments likely to uphold. But a corrective fall below the downside hindrance of 1569 may be a sign of an intraday weakness in the upcoming session.
ZINC
Previous days long liquidation move may extend only by decisive trades below 304 region. Else hold the same for a price rebound in the upcoming session.
LEAD
Prices yet to take off above the upside hindrance of 195 to boost prices higher. Inability to challenge above the same may be a sign of intraday weakness.
ALUMINIUM
If prices remain above the downside hindrance of 254.80 region could expect broad buying to persist. On the flipside, a corrective fall below the same may bid long liquidation move in the upcoming session.
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