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Published on 3/12/2019 5:27:09 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 03 November 2019 By Geojit Financial

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

Gold

Technical Commentary

Break above the falling trend line resistance of 38250 could boost prices higher to 38390 then to Bollinger upper band level of 38445. On the other hand, inability to succeed above the 38250 may push prices lower.

 

Silver

Technical Commentary

Present technical structure suggest further buying towards the immediate objective of 45350 region or even higher to 45660. But crack below 44700 may push prices lower.

 

Crude Oil

Technical Commentary

If prices remain below the internal trend line resistance of 4068 could expect further weakness towards the downside objective of 3970 followed by 3950. However, solid trades above 4068 could lift prices higher.

 

Natural Gas

Technical Commentary

Prices possibly to trade higher in the coming session with an immediate objective of 174.70 then to 176.30. On the other hand intraday weakness could see only below 168.40.

 

Copper

Technical Commentary

Weakness may persist in the coming session towards the downside 428.30 then to 426.70. In this bearish note, rise above the SMA level of 432.70 may bid intraday recovery towards 434.40 or even higher.

 

Nickel

Technical Commentary

Established weakness may prolong in the coming session towards 992 then to 978 region. On the other hand, recovery move above the trend line obstacle of 1016 may push prices higher.

 

Zinc

Technical Commentary

Fall past below the immediate hindrance of 181.50 could extend weakness. Else hold the same for a reversal towards the upside objective of 184.20 then to 185.10.

 

Lead

Technical Commentary

Present weakness may further extend only below the Bollinger lower band level of 151.30 region. Which if remain untouched could expect price recovery towards the SMA Level of 153.50.

 

Aluminium

Technical Commentary

Prices likely to extend present recovery move towards the trend line objective of 135.20 then to 136.40. However, sudden fall below 50–Day EMA level of 133.30 may drag prices lower.

 

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