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Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 08 May 2024 - Geojit Financial Services Ltd
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Gold
MACD bearish divergence suggest the possibility of weakness. Nevertheless, a sustained trades above 70900 could rule out the possibility of a downward trend.
Silver
Range bound moves expected in the intraday session. Whereas, a dip below 81850 region may undermine the sentiments.
ENERGY
Crude Oil
Southbound move may extend if prices dip below 6420 region. Inability to extend below the same may induce mild rebounds.
Natural Gas
MACD bullish divergence that the prices may cling northward. Whereas, a dip below the 180 region may undermine prices.
BASE METALS
Copper
Prices may extend weakness below 850 region. Or else, mild rebounds may be seen.
Nickel
Lack of volume in the counter.
Zinc
Range bound moves may witness in the counter. However, a dip below 257.40 could trigger weakness.
Lead
Prices may strengthen above 194.40 region. Weakness may witness below 192.10.
Aluminium
Mild weakness expected in the counter. Rebound may gain momentum above 234 region.
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