Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 31 May 2024 - Geojit Financial Services Ltd
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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. Voluminous dip below 93100 could induce mild correction.
ENERGY
Crude Oil
Further weakness expected to sustain only with voluminous dip below 6430 region. Or else, mild rebounds may be seen in the day.
Natural Gas
Prices may stretch downtrend in the current session, while holding any of the support 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
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 193.40 region.
Aluminium
Mild correction is possible in the counter. Rebound above 246.70 region may strengthen prices.
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