Published on 22/10/2019 5:26:03 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 22 October 2019 By Geojit Financial

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

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Technical Commentary

Solid move which sustain above the immediate obstacle of 38290 could lift prices higher. Inability to challenge above the same may grab prices lower to trend line support of 37780.



Technical Commentary

Prices possibly to trade in a range bound with in the trading range of 44980- 46100. A firm move which breaks either side of the mentioned region could set the directional move.


Crude Oil

Technical Commentary

Direct rise above the 3850 could push prices higher. Inability to crack above the same could squeeze down prices lower to downside trend line support of 3750 region.


Natural Gas

Technical Commentary

Weakness may extend lower in the coming session towards the downside objective of 156 followed by 153.70. But rise above the erstwhile trend line support of 162.40 could lift prices higher.



Technical Commentary

Intraday move largely to be downside with an immediate trend line objective of 436.60 or even lower. But direct rise above 442.80 could push prices higher.



Technical Commentary

Broad long liquidation move likely to progress in the coming session towards 1148 or even lower to 1134. But a firm move which sustain above the EMA level of 1182 could push prices higher.



Technical Commentary

Prices have been nearing to internal trend line hurdle of 186.20, which if breaks could boost prices higher to Bollinger upper band level of 188 region. Else hold the hurdle of 186.20 for a price slippage towards 184.60.



Technical Commentary

A directional move may set out only by breaking wither side of the congestion region of 154.80-156.60. Else could expect prices to oscillate between the above mentioned trading range.



Technical Commentary

Broad weakness likely to persist in the coming session towards immediate objective of 131.90 then to 131. However, determined trades above 133.60 may lift prices to SMA level of 134.30 or even higher.


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