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Published on 10/12/2019 5:16:59 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 10 December 2019 By Geojit Financial

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

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Gold

Technical Commentary

Direct fall below 37480 could extend weakness. Else, hold the same for a recoup towards Bollinger middle band level of 37960.

 

Silver

Technical Commentary

Weakness may persist towards the downside objective 43200 followed by the trend line support 42920 region. On the flipside, direct rise above 43940 could lift prices higher.

 

Crude Oil

Technical Commentary

Direct fall below Bollinger middle band level of 4120 could squeeze down prices lower to trend channel support of 4085, followed by 4063.Botched attempt to crack below 4120 could lift prices to Bollinger upper band level of 4265.

 

Natural Gas

Technical Commentary

Chart indicators and pattern break out pointing for further weakness towards the downside objective of 155.50 and then to 153.20. In this bearish note, retreating trades above 160.50 could call for a short covering move towards the erstwhile trend line support of 165.50 region.

 

Copper

Technical Commentary

As long as prices hold the 50-Day EMA level of 436.90 could further buying towards 442 followed by 444.80.But fall past below 436.90 would be an early sign of a corrective move towards 433.70.

 

Nickel

Technical Commentary

Trend line resistance of 984 region caps upside, could anticipate further weakness towards Bollinger lower band level of 941 then to 928.

 

Zinc

Technical Commentary

Weakness may persist in the coming session towards the downside objective of 182, followed by Bollinger lower band level of 179.70. On the other hand, a major price recovery may establish only above 184.50 region.

 

Lead

Technical Commentary

Prices still in the congestion region with lack of directive moves and possibly to float with in the trade range of 151.60-153.50. A firm move which breaks either side of the above mentioned region may bid fresh directional move.

 

Aluminium

Technical Commentary

As long as prices remain above the Bollinger lower band level of 131.80 could expect price recovery towards the trend line resistance of 133.50 region. However, break below 131.80 may grab prices lower.

 

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