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Published on 22/07/2019 5:17:44 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Broad buying still intact and it is possible to continue during evening session as long as prices hold the trend line support of 34870 region and such bullish move possibly to test the region of 35380

 

Silver

Technical Commentary

Ensuing buying sentiments would possibly uphold in the coming session towards the upside objective of 41650 followed by horizontal trend line resistance of 41840. Intraday weakness may be see only by revisiting trades below 40830.

 

Crude Oil

Technical Commentary

Price yet to make 20-Day EMA level of 3955 for the continuation of present recovery move. Else could expect a corrective move towards the downside objective of 3860 or even lower 3810.

 

Natural Gas

Technical Commentary

Intraday move largely to be north bound with an immediate Bollinger middle band level of 161 then to 164.80. While intraday weakness could see only below 156.

 

Copper

Technical Commentary

Revisiting trades above hourly candle high of 458.85 could call next phase of buying momentum. Else, could expect price slippage towards 452 or even lower to 448.80.

 

Nickel

Technical Commentary

Profit booking have been witnessing after consecutive days of buying momentum. Looking ahead, present long liquidation move likely to extend towards 983 followed by EMA level of 989. On the flipside a major recovery could see only above 1014.

 

Zinc

Technical Commentary

Prices have been looming towards the trend line support of 190 region. Which if breaks, could extend weakness. Inability to sustain below would be an early sign for a price recovery towards EMA level of 193.30.

 

Lead

Technical Commentary

Weakness may persist towards the Bollinger lower band level of 150.40 region. In this bearish sentiments rise above the horizontal trend line resistance of 153.60 could push prices higher.

 

Aluminium

Technical Commentary

By breaking the technical hindrance level of 142 could call further selling towards the downside objective of 141.20 then to 140.60. Botched attempt to crack below 142 could push prices higher.

 

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