Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 09 Aug 2024 - Geojit Financial Services Ltd
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Gold
Extended rebound above 70320 region may strengthen the momentum. Else, mild correction may seen below the same region.
Silver
Recovery moves possible to extend in the current session, while weakness may seen if prices dip below 80000 region.
Crude Oil
Prices may appear firmer above SMA resistance of 6520 region in the intraday. Invalidity to cross above the same can induce correction.
Natural Gas
Extended rebounds above EMA resistance of 190 could strengthen the prices further. Whereas, inability to cross above the same can induce correction.
Copper
Rebound may strengthen with voluminous trades above 786 region. Slippage below 776 can induce mild correction.
Nickel
Lack of volume in the counter.
Zinc
Prices seem to respect the trend line support from yesterday, therefore expect north bound moves. Corrective dips could witness if EMA resistance at 258.60 is held.
Lead
Recovery move could strengthen with sturdy trades above 187.50 region. Else, mild correction is possible below the same.
Aluminium
Prices expected to trade northward. Corrective move below 212.70 can trigger mild correction.
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