Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 28 February 2022 By Geojit Financial
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BULLION
GOLD
As long as prices stay above the downside support of 50380 could boost prices higher towards 51200 region. On the flipside, a corrective fall below 50380 may dent our intraday buying expectation.
SILVER
Decisive trades above the 66600 could boost prices further higher. Which if remain untouched could anticipate weakness in the later session to come.
ENERGY
CRUDEOIL
Prices possibly to extend broad buying towards the upside objective of 7370 or even higher. Even in this bullish outlook, a corrective fall below 7110 may be sign of intraday weakness.
NATURAL GAS
A long liquidation move likely to progress in the session to come if prices stay below 356 region. But determined trades above the same may induce further buying in the later session.
BASE METALS
COPPER
Intraday weakness may be seen only by decisive trades below 769 region. Else may expect prices to trade higher in the later session to come.
NICKEL
Established buying sentiments likely to uphold towards the upside objective of 1912 or even higher to 1927. Even in this positive note, a long liquidation move which claim below 1862 may push prices lower.
ZINC
Ensuing buying sentiments likely to extend in the upcoming session towards the upside objective of 306 or even more to 308.70 region. But a corrective fall below 302 may be sign of intraday weakness.
LEAD
Intraday move is expected to be downward with a price objective of 185.20 or even lower. But recovery trades above 187.30 may boost prices higher in the later session.
ALUMINIUM
Prices have been consolidating after a gap up opening. Although further gains may be seen only by tangible trades above 281 region. Which if remain undisturbed could extend weakness in the later session.
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