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Published on 20/08/2019 5:27:31 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 20 August 2019 By Geojit Financial

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

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Gold

Technical Commentary

Dominant buying sentiments likely to be upheld in the coming session 37720 then to horizontal trend line resistance of 37920 region. But fall past below 37260 may set off fresh long liquidation move.

 

Silver

Technical Commentary

Prices seen in a consolidation since last week. However, as long as prices remained above the SMA level of 42900 could expect further prices rally towards Bollinger upper band level of 44620 or even more.

 

Crude Oil

Technical Commentary

Determined trades above the Bollinger upper band level of 4100 could push prices higher. Inability to crack above the same could dent intraday buying sentiments and push prices lower.

 

Natural Gas

Technical Commentary

By breaking the hindrance of 161.80 could lift prices and such emerging buying momentum could test 164.40 then to 168.30. But botched attempt to crack above 161.80 would be an early sign for a long liquidation pressure.

 

Copper

Technical Commentary

Region of 451.60 still looks to be formidable region for prices to gain momentum . Inability to challenge above the aforementioned hurdle could expect a corrective move towards Bollinger middle band level of 445.10 region or even more.

 

Nickel

Technical Commentary

Direct fall below 1112 region could bid long liquidation pressure for intraday. Else, could hold the same for further price rally towards 1138 then to 1149.

 

Zinc

Technical Commentary

Weakness may persist only below the horizontal trend line support of 181.90. Which if remained untouched could expect a price recovery towards 185.30 region.

 

Lead

Technical Commentary

Intraday move is expected to be north bound towards the upside objective of 156 then to 156.90. But fall past below the internal trend line support of 153.90 could grab prices lower.

 

Aluminium

Technical Commentary

Weakness may persist in the coming session towards the 50-Day EMA level of 139.60 followed by 138.70 region. But determined trades above 141.50 could boost prices higher.

 

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