Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 29 December 2021 By Geojit Financial
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
BULLION
GOLD
Bearish crossover in MACD oscillators suggest the possibility weakness in the counter. Prices may weaken further if trades sustain below 47700. Else, consolidation or mild rebound may be witnessed in the intraday.
SILVER
Divergence after MACD bullish crossover rule out the possibility of weakness in the counter for the intraday. However, major upsides can be witnessed only above Bollinger upper band region of 63080.
ENERGY
CRUDEOIL
Next stage of upside run would be possible if prices sustain above the trendline hurdle of 5740. Else, corrective dips may be seen below the same resistance.
NATURAL GAS
Recovery momentum gain strength if prices break above 305 region. Meanwhile, a corrective dip below 291 may weaken prices.
BASE METALS
COPPER
Present fall in the counter may bring prices lower to 741 region, below which prices may appear weaker. Major weakness expected only below 728 region. Holding any of the mentioned levels may induce rebounds in the intraday
NICKEL
Intraday momentum may gain strength above 1562 region initially or even more to 1570. On the flipside, a sustained trade below 1540 may be a sign of intraday weakness.
ZINC
There are still room for upward moves, but prices must break above the upside hurdle of 292.40 to gain momentum. Else holding the same level, corrective dips may be seen in the later session.
LEAD
Prices still locked withing previous sessions’ range. Firm trades above 187.80 may be sign of further buying in the session to come. Else, prices may dip lower to 185.70 or even lower.
ALUMINIUM
Next stage of buying may trigger only by decisive trades above 229.80 region. Unable to challenge above the same may induce corrective dips in the counter.
Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
