Published on 23/10/2019 5:06:43 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 23 October 2019 By Geojit Financial

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

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Technical Commentary

Determined trades above the immediate obstacle of 38290 could lift prices higher to 38480 or even higher. If not, could expect intraday weakness towards 37880 or even lower to EMA level of 37590 region.



Technical Commentary

Intraday move likely to stay within the trading range of 44980-46100. A directional move may establish only by prolific trades either side of the mentioned region.


Crude Oil

Technical Commentary

Prices possibly turn higher in the coming session towards the upside objective of 3895 or even higher to 3940. On the flipside, fall past below the SMA level of 3800 may grab prices lower 3760 followed by 3710.


Natural Gas

Technical Commentary

Current feebleness of prices may stretch lower in the coming session towards the downside objective of 157.50 followed by Bollinger lower band level of 155. But decisive trades above 163.40 could lift price to EMA level of 167.



Technical Commentary

By breaking the downside support of 436.70 could grab prices lower. Otherwise could anticipate a price recovery towards 441 then to 442.60 region.



Technical Commentary

A major recovery could trigger only above the internal trend line resistance of 1205 region. Inability to crack above the same could trigger further selling towards 1170 then to 1156.



Technical Commentary

Slippage below the immediate hurdle of 183.80 could squeeze down prices lower. Else hold the same for price recovery towards trend line resistance of 186.



Technical Commentary

Intraday trend may formulate only by breaking either side of the congestion region of 154.80-156.60. Else prices likely to float with in the above mentioned trading range.



Technical Commentary

Witnessing selling momentum likely to continue in the coming session towards the trend line objective of 130.70 followed by 130. On the flipside, a direct rise above the hourly candle high of 132.40 could push prices.


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