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Published on 12/07/2019 5:16:22 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 12 July 2019 By Geojit Financial

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

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Gold

Technical Commentary

Prices look exhausted after consecutive days of buying momentum and intraday move largely to be downward with an immediate price objective of 34575 then to 34370. Upside turn around level would be 34850.

 

Silver

Technical Commentary

Intraday price move largely to be south bound towards the Bollinger middle band level of 37860 followed by 37560. But a direct rise above 38550 could lift prices higher.

 

Crude Oil

Technical Commentary

Determined trades above 4175 could trigger fresh buying towards 4210 then to Bollinger upper band level of 4253. Else, could call a reversal towards the downside objective of 4092 then to 4035.

 

Natural Gas

Technical Commentary

Marking trades below the trend line support of 164 region could grab prices lower to 159.70 region. Botched effort to crack below 164 may lift prices to Bollinger upper band level of 170.

 

Copper

Technical Commentary

Prices possibly to float higher in the coming session towards the upside objective of 446.80 followed by falling trend line objective of 451. But unexpected fall below 441.80 may squeeze down prices lower.

 

Nickel

Technical Commentary

Prices yet to make tangible trades above the hurdle of 920 region, where Bollinger upper band and trend line resistance level are placed. Failed to challenge above the same could grab prices lower to 903 followed by 894

 

Zinc

Technical Commentary

Raise above the EMA level of 194.60 could boost prices to 196 or even more. In this positive note, unexpected fall below 192 may grab prices lower.

 

Lead

Technical Commentary

Prices possibly climb towards the immediate price objective of 157.25 followed by Bollinger upper band level of 159. But A direct fall below 155 may grab prices lower

 

Aluminium

Technical Commentary

Prices have been consolidating since last few days in a tedious manner. In this perplexing state, as long as prices trade above the trend line hindrance of 141.20 could rebound higher towards the upside objective of 144.30 region. Intraday selling could see only below 141.20.

 

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