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Published on 22/08/2019 5:23:22 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 22 August 2019 By Geojit Financial

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

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Gold

Technical Commentary

As long as prices hold the support of 37440 could anticipate further price rally towards 37920 and then to 38120. But, a direct fall below 37440 may dent our buying expectation.

 

Silver

Technical Commentary

Progressing bullish momentum likely to test the immediate level of 44920 and then to 45140 region. However, unexpected fall below 43400 may call a corrective move for intraday.

 

Crude Oil

Technical Commentary

Substantial trades above the trend line hindrance of 4090 could push prices higher. Botched attempt to crack above the same could bid a price slippage towards 3968.

 

Natural Gas

Technical Commentary

Feebleness could extend only below the Bollinger middle band level of 152 region, which if remained undisturbed could lift prices to 160 or even more.

 

Copper

Technical Commentary

Since the hurdle of 444.70 being breached, further selling pressure towards the price objective of 442.60/440.30 seems likely. Price recovery may reestablish only above 444.70

 

Nickel

Technical Commentary

A long liquidation move likely to play out in the coming session towards the internal trend line objective of 1102, followed by 1086.On the contrary, decisive trades above 1130 could boost prices higher.

 

Zinc

Technical Commentary

Current recovery move likely to withstand towards the immediate objective of 186.50, then to Bollinger middle band level of 187.20. Fall past below the hourly candle low of 184.25 could grab prices lower.

 

Lead

Technical Commentary

Prices seen in a congestion region with lack of directive trades. In the perplexing situation, surprise move above 155.50 could lift prices higher to Bollinger upper band level of 157.90. Else, could expect weakness for intraday.

 

Aluminium

Technical Commentary

As long as prices remain below the hurdle of 140.80, likely to witness downwards pressure towards 138.90, followed by 137.70. A direct break above 140.80 could lift prices higher.

 

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