Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 27 October 2021 By Geojit Financial
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BULLION
GOLD
Prices may appear weaker below the Bollinger lower band support of 47060. Meanwhile, rebounds may be seen if prices hold the support at the same level
SILVER
Although the converging MACD oscillators rule out major direction in the counter, prices may appear weaker below 64300 region. Next phase of strong bullish moves can be expected only above 66440 on the trendline resistance.
ENERGY
CRUDEOIL
As we said yesterday, the downward momentum may find support at 6210 on the rising trendline. A strong downward move may further weaken the counter, while holding the same level can induce mild rebounds as well.
NATURAL GAS
Strong bullish moves expected only above trendline resistance of 456.20 region. Else, mild corrective dips may be witnessed in the counter.
BASE METALS
COPPER
Bearish crossover in MACD lines suggest possibility of weakness. However, prices need to break the support of 749 on the trendline to stretch lower. Else, mild rebound may be witnessed in the intraday.
NICKEL
Breaking below the Bollinger lower band region of 1524 may weaken the counter. Else, mild rebounds may be witnessed.
ZINC
Bearish crossover in MACD lines suggest the prevalence of weakness. A strong rebound above Bollinger mid band region of 282.30 may negate bearish sentiments.
LEAD
Converging MACD oscillators rule out the possibility of strong directional moves. However, slip below the trendline support of 184.40 may induce weakness in the counter.
ALUMINIUM
The MACD oscillators widened further after bearish crossover suggesting the persistence of weakness. The next support for the prices seen at 218.10 on the trendline. A strong rebound above 225 region can strengthen the prices.
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