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Published on 14/08/2019 5:17:44 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 14 August 2019 By Geojit Financial

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

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Gold

Technical Commentary

Broad sentiments still pointing northward with an immediate objective of 37890 followed by 38120. But unexpected fall below the hourly candle low level of 37190 could push prices lower.

 

Silver

Technical Commentary

Present recovery move less likely to continue unless the hindrance of 44100 region gives way and such botched move could pave a long liquidation move towards 43750 or even lower.

 

Crude Oil

Technical Commentary

As long as prices hold the EMA level of 3978 in hourly chart could expect price recovery towards the internal trend line objective of 4075 firstly or even more. Break below 3978 could push prices lower.

 

Natural Gas

Technical Commentary

Short covering move likely to progress in the coming session towards the trend line objective of 159 followed by 161.50. Meanwhile, direct fall below the EMA level of 153.30 could push prices lower.

 

Copper

Technical Commentary

Intraday weakness could see only below the Bollinger middle band level of 446 region. Which if remain unbroken could anticipate a recovery move towards the 451.30 and 453.50 there after. Fall past below 446 may squeeze down prices lower.

 

Nickel

Technical Commentary

Uninterrupted buying momentum could stretch higher in the coming session towards the upside objective of 1148 then to 1164. But reclaiming trades below the 1120 could grab prices lower to 1002.

 

Zinc

Technical Commentary

Weakness may persist towards the downside objective of 185.20 followed by the Bollinger lower band level of 183.30. But a surprise move above the hourly candle high of 186.95 could push prices higher.

 

Lead

Technical Commentary

Intraday move is expected to be upside with an immediate objective of 155.70 followed by 157.10. But determined trades below the trend line support of 153 could trigger intraday selling.

 

Aluminium

Technical Commentary

Prices seen trapped in a congestion region since last few days with in the range of 141.80 - 139.60. A solid trades either side of the above trading range could set off a directional move.

 

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