Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 18 January 2024 By Geojit Financial Services Ltd
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BULLION:
Gold:
MACD bearish divergence suggest mild weakness. However, a voluminous rebound above 62200 may strengthen the prices
Silver:
MACD Bearish divergence suggest possibility of weakness. Rebound may sustain only with steady gains above 72150 region.
ENERGY:
Crude Oil:
Mild rebounds possible in the counter. Prices may appear firmer above 6130 region. Meanwhile, weakness can be witnessed if prices dip below 5920 region.
Natural Gas:
Prices may strengthen with voluminous rebound above 247 region. Whereas, an extended dip below 234 may induce weakness as well.
BASE METALS:
Copper:
MACD divergence suggest prevalence of weakness in the counter. However, a rebound above 718 region may strengthen the prices.
Nickel :
Lack of volume in the counter
Zinc:
Extended dip below 218.30 region may induce weakness. Rebounds may strengthen above 220.20 region.
BASE METALS:
Lead:
Weakness may continue of prices dip below 179. Recovery moves may strengthen above 180.90 region.
Aluminium:
Mild weakness to prevail in the counter. Rebound may strengthen above 201.20.
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