Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminum Commodity Report of 31 May 2022 By Geojit Financial
BULLION
GOLD
Major buying could see only by determined trades above 51120 region. Failed to achieve trades above the same may eventually squeeze down prices lower.
SILVER
Intraday weakness may trigger only by solid trades below 61300 region. Which if remain undisturbed could boost up prices higher towards the upside objective of 62500 or even more to 63200.
ENERGY
CRUDEOIL
Early dips can be seen to initiate further buying in the session ahead towards 9290 or even more. Even in this bullish outlook, a surprise fall below 9110 may dent our buying expectation.
NATURAL GAS
Determined trades which settle above 695 may be a sign of fresh buying in the session ahead. Botched effort for prices to take off higher above the same may grab down prices lower.
BASE METALS
COPPER
Price have been approaching towards the upside obstacle of 786.50 region, which if gives way could trigger fresh buying. Inability to mark trades above the same may push prices lower.
NICKEL
Current feebleness of prices may extend further towards the downside objective of 2070 or even lower. But a rebounding trades which settle above 2180 could lift prices higher.
ZINC
Ensuing buying sentiments possibly to extend towards the upside objective of 338 firstly or even higher. Even in this positive picture, a corrective dip below 334 may dent our buying expectation.
LEAD
Intraday price rally may trigger only by tangible trades above 186 region. Else hold the same for prices to turn lower towards 182.80 or even lower to 182.
ALUMINIUM
Further buying may be seen only by decisive trades above 245.50 region. Failed to move past above the same may grab prices lower.
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