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Published on 19/07/2019 5:06:32 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 19 July 2019 By Geojit Financial

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

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Gold

Technical Commentary

Prices expected to extend higher towards the Bollinger upper band level of 35475, above which buying would continue further. Intraday correction expected below the support of 35185 on the Bollinger mid-band region.

 

Silver

Technical Commentary

Present buying momentum expected to extend higher towards 41690 on the horizontal trend line resistance followed by 41860. However, a slip below 40990 may negate our buying expectations.

 

Crude Oil

Technical Commentary

Buying expected to continue only above the Bollinger mid-band region of 3890, else, prices may consolidate with mild downside correction.

 

Natural Gas

Technical Commentary

Corrective dips may find support at 156 region, a break below the region with high volume may induce further selling. However, holding the same region for mild consolidation or pullbacks may be witnessed.

 

Copper

Technical Commentary

Sustained trades above 457 on the falling trend line region would add buying interest in the counter. Whereas, holding the same resistance may induce corrective moves in the counter

 

Nickel

Technical Commentary

Corrective dips in the counter may find support at horizontal regions of 996.50 and 983 in the intraday. Major support is seen at 967 below which weakness may continue further lower. In the meantime, pullbacks above 1030 and 1045 would negate selling expectations.

 

Zinc

Technical Commentary

Corrective dips would find support at 189.60 on the rising trend line and a break below the same region would add selling pressure in the counter. Else, zigzag moves may be witnessed in the counter.

 

Lead

Technical Commentary

Prices expected to wigwag in a narrow range unless the horizontal trend line resistance of 157.60 remain unreached. In the meantime, corrective dip may find support near 155.30 region.

 

Aluminium

Technical Commentary

Intraday moves expected to be within the levels of 144-143.20. Moves past either these levels could offer fresh direction.

 

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