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Published on 21/02/2020 4:50:31 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 21 February 2020 By Geojit Financial

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

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Gold

Technical Commentary

Opening trades above 41990 may call for next session rally. A slip below the same region could trigger intraday weakness.

 

Silver

Technical Commentary

Prices may appear firmer if trades open above the falling trend line resistance of 48090. Meanwhile, a slip below the same level may induce weakness.

 

Crude Oil

Technical Commentary

Fibonacci retracement level of 3950 seen as an immediate hindrance. Opening below the above mentioned region may restrict rebounds initially. Sustained trades below the same region can induce further weakness.

 

Natural Gas

Technical Commentary

Opening below previous day’s low of 138.70 may restrict initial rebounds, while corrective dips below 137.50 may further weaken the prices. Next stage of buying can only be expected above 146.40.

 

Copper

Technical Commentary

Sustained trades below 428.20 could be an early sign for downward correction. Meanwhile, a rebound above 433 could strengthen the trades in the following session.

 

Nickel

Technical Commentary

Sustained trades below 933 region may further weaken prices. Strong buying can only be expected above 960 region on the falling trend line.

 

Zinc

Technical Commentary

Holding the downside support of 165.50 may bring prices close to 166.90 region. Trades may appear firmer if prices sustain above 166.90.

 

Lead

Technical Commentary

Extending sideways trend with mild correction and pull back can be witnessed in the present price range. Opening above 147.40 may lead prices higher in the intraday.

 

Aluminium

Technical Commentary

Prices may bounce back holding the trend line support of 136, and get firmer if traded above 138.80. However, falling below 136 with large volume can induce weakness.

 

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