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Published on 13/01/2020 9:45:12 AM | Source: Choice Broking

We expect bearish move in the counter - Choice Broking

Posted in Commodities Reports| #Commodity Tips #Choice Broking

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Gold

* On the daily chart, the price has closed in a flat note during the last session.

* But, the price has faced resistance from the upper Bollinger Band, which confirms bearish momentum in the counter for the near term.

* Furthermore, Heikin Ashi candle of the counter has formed a red candle, which signals bearish presence in the counter.

* Additionally, a momentum indicator RSI(14) has breached below the 50 level, which signals power to the bears.

* As per the above technical structure; we expect a bearish move in the counter

 

Silver

* On the daily chart, the price closed in a positive note by 0.62 % in the last session.

* But, the price has pushed back from the upper Bollinger Band, which adds bearish momentum in the near term.

* Furthermore, momentum indicator RSI (14) has breached below the 50 level, which suggests power to the bears.

* Additionally, Hekin Ashi candle of the counter has formed a red candle, which suggests bearish presence.

* As per the above technical structure; we expect a bearish move in the counter.

 

Copper

* The Copper price closed in a negative note during its last trading session.

* But, on the daily chart the price has been trading above its Parabolic SAR, which confirms bullish strength in the counter.

* Furthermore, the price has sustained above the 20*50 EMA, which indicates control in the hands of the bulls.

* Additionally, momentum indicator RSI(14) has sustained above the level 50, which is a bullish indication for the counter.

* As per the above technical structure; we expect bullish move in the counter.

 

Nickel

* The price closed in a negative note during the last session.

* Also, on the daily chart the price has shifted below its 20*50 days EMAs, which signifies bearish presence in the counter for the near term.

* Additionally, the price has sustained below its Ichimoku Cloud, which suggests weakness.

* Similarly, a momentum indicator RSI(14) has shown breached below the 50 level, which indicates bearishness.

* As per the above technical structure; we expect bearish move in the counter.

 

Crude Oil

* On the daily chart, the price drifted in the previoussession by 0.97%

* Moreover, Crude Oil price has been trading below its Parabolic SAR, which adds bearish strength in the counter.

* Furthermore, the price has also shifted below its 20 and 50 days EMAs, which suggests bearish momentum.

* Additionally, momentum indicator RSI (14) has breached below the 50 level, which signals power to the bears.

* As per the above technical structure; we expect bearish move in the counter.

 

Natural Gas

* Natural Gas price glittered and closed in a positive note in the previous session.

* Also, the price has witnessed a breakout from its consolidation, which suggests bullish power in the counter.

* Furthermore, the price has been broken out above the horizontal trend line, which indicates bullish presence.

* Similarly, momentum indicator Stochastic (6) has shown a positive crossover which signifies positive momentum in the counter.

* As per the above technical structure; we expect bullish move in the counter.

 

RM Seed

* On the daily chart, the price closed in a negative note during its previous session.

* Also, the price has been trading below the Bollinger Band median line, which signifies bearish momentum in the counter.

* It has also sustained below its 20*50 days EMAs, which suggests falling prices.

* Momentum indicator RSI (14) has sustained below the 50 level which indicates control in the hands of the bears.

* As per the above technical structure; we expect bearish move in the counter.

 

Soyabean

* On the daily chart, the price glittered in the last session.

* Moreover, the price has pulled back from the from the 50 days EMA, which will act as a support in the near future.

* Furthermore, the price has also taken the support of it’s earlier swing high, which indicates power to the bulls.

* Momentum indicators RSI (14) has sustained above the level 50, which indicates bullishness.

* As per the above technical structure; we expect bullish move in the counter.

 

Rubber

* On the daily chart, the price glittered during the previous session.

* Also, the price is trading above the median of the Bollinger Band.

* Moreover, It has also sustained above the 50 days SMA, which provides the counter with support.

* Momentum indicator RSI (14) has sustained above the 50 level, which confirms strength in the near term.

* As per the above technical structure; we expect bullish move in the counter.

 

Diamond

* On the daily chart, the price closed in a negative note during the last session.

* Moreover, it has closed below its 50 days SMA, which signifies power in the hands of the bears.

* Moreover, the counter faced resistance near its upper Bollinger Band, which indicates bearishness.

* nFurthermore, momentum indicator RSI has sustained below its 50 level, which is negative for the counter.

* As per the above technical structure; we expect bearish move in the counter.

 

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