Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 22 Aug 2024 - Geojit Financial Services Ltd
Gold
MACD bullish divergence suggest the prevalence of positivity. Mild correction may seen below the EMA Support at 70700 region.
Silver
Prices may appear firmer above EMA resistance at 85260 region, while holding the same resistance can induce correction.
Crude Oil
Prices held trend line support in the previous session, which may prompt a rebound. Room for weakness is only below 6000 region.
Natural Gas
Prices expected to trade with a mild weak bias in the current session. A rebound can gain strength only above 188 region on the EMA resistance.
Copper
Prices may appear firmer above the EMA resistance of 815.80 region. Slippage below 797 can induce mild correction.
Nickel
Lack of volume in the counter.
Zinc
Mild positivity expected to prevail. Holding any of the resistance region may induce correction.
Lead
Range bound trades with mild positive bias expected. Corrective move may extend if prices dip below EMA support of 189.
Aluminium
Mild positivity expected in the intraday. Dip below 228.90 region can induce corrective moves.
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