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Published on 8/01/2020 10:15:46 AM | Source: Choice Broking Pvt Ltd

We expect bullish 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 with positive note and gained 0.48% during the last session.

* Moreover, the price has sustained above 21*50 days SMA’s, which confirms bullish momentum in the counter for the near term.

* Furthermore, the price has been treading above the Parabolic Sar, which signals bullish presence in the counter.

* Additionally, a momentum indicator MACD has been moving in a positive crossover, which signals power to the bulls.

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

 

Silver

* On the daily chart, the price closed with positive note during the last session.

* Moreover, the price has closed above its rising trend line, which adds bullish momentum in the near term.

* Furthermore, the price has been trading above 21*50 days SMA and Parabolic SAR, which indicate bullish presence in the counter.

* Additionally, momentum indicator MACD has been moving in a positive crossover, which suggests power to the bulls.

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

 

Copper

* The Copper price closed with positive note during its last trading session.

* Moreover, 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 21*50 SMA, which indicates control in the hands of the bulls.

* Additionally, momentum indicator RSI(14) has been moving 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 with positive note during the last session.

* However, on the daily chart the price has broken 200 days SMA’s, which signifies bearish presence in the counter for the near term.

* Additionally, the price has sustained below the Parabolic Sar, which confirms power to the bears.

* Similarly, a momentum indicator RSI(14) has shown negative crossover, 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 1.10%

* Moreover, Crude Oil price has sustained above the rising channel, which adds bullish strength in the counter.

* Furthermore, the price has also shifted above the upper Bollinger Band, which suggests rising prices.

* Additionally, momentum indicator MACD has shown a positive crossover, which signals power to the bulls.

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

 

Natural Gas

* Natural Gas price has closed with positive note in the previous session.

* However, the price has been trading below its 50*200 days SMA’s, which suggests bearish power in the counter.

* Furthermore, the price has been trading below the horizontal trend line, which indicates bearish presence.

* Similarly, momentum indicator RSI(14) has shown a fresh negative crossover, which signifies bearish strength in the counter.

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

 

RM Seed

* On the daily chart, the price closed with negative note during the previous session.

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

* It has also sustained below its 21 days SMAs and Parabolic Sar, 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.

 

Soybean

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

* Moreover, the price has pushed back from the upper Bollinger Band, which signifies bearish power in the counter.

* Furthermore, the price has shifted below the 21 days SMA’s & Parabolic Sar, which indicates power to the bears.

* Momentum indicators RSI (14) has been moving below the level 50, which indicates more bearishness.

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

 

Rubber

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

* Moreover, 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 MACD has sustained above its 0 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 with negative note during the last session.

* However, It has closed above the 21*50 days SMA’s, which signifies power in the hands of the bulls.

* Moreover, the counter is trading above its Bollinger Band median, which indicates bullishness.

* Furthermore, momentum indicator RSI (14) has sustained above the 50 level, which is positive bias for the counter.

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

 


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