Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 20 December 2021 By Geojit Financial
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BULLION
GOLD
Prices have been approaching towards the downside hindrance of 48170 region. Which if held in today’s session, could bid fresh buying in the upcoming session. Intraday weakness may be seen only below 48170.
SILVER
Further weakness may activate only below 61400 region. Which if remain undisturbed could trigger fresh recovery move towards 62500 or even higher.
ENERGY
CRUDEOIL
Simmering weakness may strengthen in the session to come and such weak move may test 5050 or even lower. But recovery move which reclaim above 5220 could lift prices higher.
NATURAL GAS
Current feebleness of prices may persist towards the downside objective of 279 or even lower to 275 region. But recovery trades above 290 would be a sign of intraday price recovery.
BASE METALS
COPPER
Present weakness less likely to stretch lower unless prices claim below the 730 region. Inability to develop such trades may bid fresh recovery move in the later session.
NICKEL
Prices still have room for weakness towards the downside objective of 1508 or even lower. Even in this weak bias, rebounding trades which settle above 1533 may be a sign of fresh recovery move.
ZINC
Further weakness may be seen only by decisive trades below 276 region. If the above-mentioned region remain untouched could lift prices higher in the later session.
LEAD
Ensuing selling sentiments likely to stretch lower towards the downside objective of 183 or even lower. Even in this bearish expectation, rise above 185.40 could boost prices higher in the later session.
ALUMINIUM
Intraday weakness may largely to persist in the upcoming session if prices remain below 218.40 region. But a direct rise above the same may induce fresh buying towards 220 region.
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