Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 30 May 2024 - Geojit Financial Services Ltd
Gold
MACD Bearish divergence suggest possibility of mild weakness. To extend the recovery, prices need to surge above 72750.
Silver
Range bound moves may be seen in the current session. Corrective dip below 93100 could offer further downside.
ENERGY
Crude Oil
Mild correction may witness in the current session, but the possibility of major weakness could be ruled out unless the support of 6500 is breached. Rebound may strengthen above 6640.
Natural Gas
Corrective moves may extend further if prices fall below 216, while holding the same level may induce mild rebounds.
BASE METALS
Copper
MACD bearish divergence suggest possibility of downward moves. However, holding any of the below support may induce mild rebounds.
Nickel
Lack of volume in the counter.
Zinc
Mild corrective trend appears to be emerging. Extended dip below 268.20 may induce weakness in the counter, while mild rebounds may witness if the same level is held.
Lead
Corrective moves may possibly stretch lower. Whereas, a rebound could sustain above 193 region.
Aluminium
Mild correction is possible in the counter. Rebound above 246.70 region may strengthen prices.
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