Published on 20/11/2019 5:27:07 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 20 November 2019 By Geojit Financial

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

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Technical Commentary

As long as prices hold the EMA level of 38100 could lift prices to 38390 then to 38540. On the other hand, dip below 38100 would be an early sign for corrective downside move.



Technical Commentary

If prices remain below the hurdle of 45200 could push prices lower to 44370 then to 43850 region. Whereas, significant trades above 45200 may lift prices to trend line resistance of 45530 then to 46000.


Crude Oil

Technical Commentary

Prices clearly held the trend channel support region of 3950 region. If prices remain above this crucial region could expect recovery towards 4020 then to 4048. But break below 3950 may extend weakness.


Natural Gas

Technical Commentary

Inability to sustain above the internal trend line resistance of 185.80, could squeeze down prices lower to 180 region then to 177.80. On the flipside, intraday price recovery could see only above 185.80.



Technical Commentary

Intraday move is expected to be north bound towards the EMA level of 439.70 then to 441.60. But fall past below 434.80 may call fresh selling for intraday.



Technical Commentary

Weakness may continue towards the Bollinger lower band level of 1068 then to 1057. But there is equal plausible chance of price recovery once price settled above the 1092



Technical Commentary

By breaking the downside hurdle of 188.50 could squeezed down prices lower to 187.70/187. Failed attempt to crack below 188.50 may bid a short covering move towards Bollinger middle band level of 190.70 then to 192.



Technical Commentary

Intraday move is likely to be in the range of 155-70-153.60. Decisive trades which breaks either side of above mentioned region could set the directional move.



Technical Commentary

Next stage of selling could see only below 130.30 region. Which if remain undisturbed could expect prices recovery towards Bollinger middle band level of 131.90 region


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