Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 23 November 2021 By Geojit Financial
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BULLION
GOLD
Current feebleness of prices may persist in the later session towards the downside objective of 47480 or even more. Even in this bearish outlook, recovery trades above the 48020 may dent our weak bias.
SILVER
Weakness may largely to persist in upcoming session towards the downside objective of 62800 or even more. But recovery trades above 64400 may be a sign of fresh buying.
ENERGY
CRUDEOIL
Next stage of weakness may be seen only by decisive trades below 5590 region. Else hold the same for prices to rebound higher in the later session.
NATURAL GAS
By breaking off the upside hurdle of 375 may trigger fresh buying in the session to come. Inability to mark such trades may eventually push prices lower to 350 region.
BASE METALS
COPPER
Intraday move largely to be northbound if the downside hindrance of 730 region remain untouched . However, a vertical fall which sustain below the same may gradually push prices lower.
NICKEL
Prices still have room for further gains and such move possibly to test 1592 or even higher to 1605. In this positive outlook, a corrective fall which claim below 1560 may be a sign of intraday weakness.
ZINC
Ensuing buying sentiment likely to uphold in the upcoming session as long as prices float above 275 region. But a direct fall below the same may push prices lower.
LEAD
Prices weakness may stretch lower in the later session if prices stay below 185.20 region. On the flipside, a direct rise above the same may push prices higher to 186.50 or even more.
ALUMINIUM
Successful trades above the upside obstacle of 214 could boost prices higher in the later session. Else could anticipate a price consolidation with mild negative bias.
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