Published on 26/04/2019 5:38:15 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report Of 26th April 2019 By Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Technical Commentary

Technical Commentary As long as prices sustain above the horizontal support of 31790, an upward move towards 31970 or even higher is possible. On the other hand, if prices break below the same region, an intraday correction is possible.



Technical Commentary

The present buying momentum expected to find resistance near 37730 on the slanting trend line, holding which, corrective dips are possible in the intraday. Meanwhile, it is necessary to break above the same region to sustain the buying sentiments.


Crude Oil

Technical Commentary

Intraday movement expected to be downward closer to the horizontal level of 4475. Moves past 4475 could extend correction while holding the same could induce mild recovery.


Natural Gas

Technical Commentary

Sustained trades above the trend line support of 176.40 could offer possibility for further recovery moves. Unable to hold near the same region could negate buying views.



Technical Commentary

A recovery move in prices can be expected if prices sustain above the support of 444 region on the rising trend line. Meanwhile, a voluminous break below the same support could add fresh selling.



Technical Commentary

Divergence in MACD oscillators after the bearish crossover suggest the prevalence of selling sentiments. However, a voluminous break below 859 is necessary to extend further correction.



Technical Commentary

Present recovery moves expected to find resistance near Bollinger resistance of 204.10 or trend line resistance of 206.20 in the upcoming sessions. Intraday weakness is expected only below the Bollinger support of 201 region.



Technical Commentary

Sideways trend may prevail in the upcoming sessions with mild correction and pullbacks unless the prices break above the horizontal resistance of 136.20. Major weakness can only be expected below support of 133.60 region on the rising trend line.



Technical Commentary

Intraday correction may inch closer to 128.20 and 127 in the upcoming session. Holding either levels could offer ground for an intraday recovery. However, possibility of a major weakness can be ruled out as long as prices sustain above 127 region.


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