Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 29 October 2021 By Geojit Financial
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BULLION
GOLD
If prices remain above the downside hurdle of 47500 region may bid fresh buying in the later session. But a vertical fall below the same may dent our buying sentiments.
SILVER
Intraday price recovery may trigger only by promising trades above the upside hurdle of 65600 region. Inability to challenge above the same may bid fresh selling in the upcoming session.
ENERGY
CRUDEOIL
Resurging trades above the upside hurdle of 6270 could boost prices higher in the later session. Failed to challenge above the same may gradually push down prices lower.
NATURAL GAS
Intraday move is expected to be northbound if prices stay above 428 region. Even in this positive sentiments, an unexpected fall below the same may gradually squeeze down prices further lower.
BASE METALS
COPPER
A major price recovery may establish only by decisive trades above 757 region. If the respective region remain untouched could expect prices to scale lower in the later sess
NICKEL
Present corrective move may possibly to extend in the session to come. However, a direct rise above the upside hurdle of 1518 may bid fresh buying in the later session.
ZINC
Prices likely to consolidate within the trading range of 279-284 region. A firm move which breaks either side of the above-mentioned region could setoff fresh directional move.
LEAD
Prices have been nearing towards the downside hurdle of 184.20 region. Which if breaks could expect prices to extend weakness in the upcoming session. Else hold the same for a price rebound to higher.
ALUMINIUM
Intraday weakness may be seen only below the downside hurdle of 216 region. Which if remain undisturbed could expect prices to trade higher in the later session.
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