Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 20 June 2022 By Geojit Financial
BULLION
GOLD
Prices likely to consolidate within the trading range of 50680-50950. A firm move which breaks either side of the mentioned region to set off fresh directional move
SILVER
A major price rally may be seen only by determined trades above 62000 region. Which if remain undisturbed may be a sign of further weakness in the later session
ENERGY
CRUDEOIL
Present technical structure point to further weakness in the session ahead. But there is equal plausible chance of a recovery if prices settle above 8560 region.
NATURAL GAS
Intraday price recovery may trigger only by tangible trades above 548 region. Inability to challenge above the same may persist previous session weakness towards 510 or even lower.
BASE METALS
COPPER
Broad weakness still intact and possibly to extend lower towards the downside objective of 725. Even in this bearish expectation, determined trades above 738 may bid fresh intraday recovery move.
NICKEL
Present bearish sentiments possibly to extend towards the downside objective of 2110 or even lower. On the other hand, reclaiming trades above 2190 could lift prices higher.
ZINC
Prices have been approaching towards the downside hurdle of 308 region, Which if breaks could extend weakness. Else hold the same for prices to rebound higher.
LEAD
Present buying sentiments likely to uphold towards the upside objective of 186. But dip below 183.70 may squeeze down prices lower.
ALUMINIUM
Weakness may persist only by tangible trades below 212 region. Else could expect prices to rebound higher to 216.80 or even higher
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