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Published on 1/04/2020 4:52:15 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 1 April 2020 By Geojit Financial

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Gold

Technical Commentary

Current feebleness of prices may persist towards the bollinger lower band level of 42350 followed by fibonacci retracement level of 42080. On the flipside, intraday price recovery could see only above 43150 region.

 

Silver

Technical Commentary

Weakness may stretch lower towards 39100 then to 14-Day SMA level of 38490 region. But scale above 40260 may invite fresh recovery for today’s session.

 

Crude Oil

Technical Commentary

Prices still have room for selling bias towards the downside objective of 1520 followed by 1460. In this bearish note, unexpected rise above the hourly moving average level of 1635 could lift prices higher 1695 or even more.

 

Natural Gas

Technical Commentary

Prices possibly to float with in the trading range of 124-130. A firm move which breaks any of the mentioned price range could set off a directional move.

 

Copper

Technical Commentary

Prices clearly held the fibonacci retracement level of 383 region in today’s session, which if remain untouched could extend weakness towards 370.50 then to 366.20 region.

 

Nickel

Technical Commentary

Successful trades above 874 could boost prices higher to bollinger middle band level of 888 and 910 there after. Although, botched attempt to mark trades above 874 would be an early sign for a downside corrective move for today’s session.

 

Zinc

Technical Commentary

A major price recovery could see only above the internal trend line hurdle of 146 region. Else hold the same for a corrective move towards the downside objective of 141.70 followed by bollinger lower band level of 135.70 region.

 

Lead

Technical Commentary

Prices possibly to edge lower in the coming session towards the downside objective of 130.80 then to 129.20 region. But convincing trades above the hurdle of 134.80 could lift prices higher to hourly EMA level of 137.70.

 

Aluminium

Technical Commentary

If prices remain below the SMA hurdle of 135 region could expect further weakness towards the price objective of 131.90 then to 130.70. Even though, sturdy trades above 135 could lift prices higher.

 

 

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