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Published on 23/09/2019 5:11:59 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 23 September 2019 By Geojit Financial

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

Gold

Technical Commentary

Breaking the hindrance of 37940 could lift prices higher. Else could anticipate weakness towards the downside objective of 37640 then to trend line support of 37440.

 

Silver

Technical Commentary

Remarkable trade above the Fibonacci level of 47610 could push prices higher to 47960 then to 48450. Inability to sustain above the same may drag prices lower to 46900.

 

Crude Oil

Technical Commentary

Prices likely to trade flat with in the range of 4235–4120. A convincing move which breaks either side of the aforementioned region could set off the trend.

 

Natural Gas

Technical Commentary

Current weakness may persist towards the downside objective of 175.20 followed by next price objective of 170.80. However, conclusive trades above the internal trend line resistance of 180.70 could boost prices higher.

 

Copper

Technical Commentary

Weakness could extend lower towards the downside objective of 437.20 followed by Bollinger lower band level of 434.80. Meanwhile, marching above the hurdle of 442.70 could call a recovery move.

 

Nickel

Technical Commentary

Dominant buying momentum likely to gain further in the coming session towards the price objective of 1285 followed by 1293. However, Fall past below the SMA level of 1253 could push prices lower.

 

Zinc

Technical Commentary

Sturdy trade below the sloping trend line support 182.20 could push prices lower. Inability to crack below the same could revive a short covering move towards the Bollinger middle band level of 184 or even higher to 185.10.

 

Lead

Technical Commentary

Major consolidation is progressing with in the tight range. Determined trade which breaks either side of the trade range of 155.80-153.50 could set the trend.

 

Aluminium

Technical Commentary

A prices recovery could trigger only above the Bollinger middle band level of 139 region. Which if remain untouched, may grab price lower to 137.20 followed by 134.90

 

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