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Published on 27/02/2020 4:52:22 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 27 February 2020 By Geojit Financial

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

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Gold

Technical Commentary

Intraday move largely to be northbound towards the upside objective of 42680 then to 42850. But slippage below the Bollinger lower band level of 42190 may dent our buying expectation.

 

Silver

Technical Commentary

Sustainable trades below EMA level of 46450 may drag prices lower 45800 then to 45380. Failed to crack below 46450 may revamp broad buying sentiments for intraday

 

Crude Oil

Technical Commentary

Established weakness could extend lower towards the downside objective of 3390 and 3430 there after. But revival trades above 3490 would be an early sign of a price recovery for today’s session.

 

Natural Gas

Technical Commentary

Simmering weakness may extend lower towards the downside objective of 125.30 followed by 121. On the flipside, successive trades above 130.70 could lift prices higher to Bollinger middle band level of 133.80 region.

 

Copper

Technical Commentary

Prices possibly to slip further in the coming session towards 420.60 then to the support region of 416.50. But direct rise above 425.50 could boost prices higher.

 

Nickel

Technical Commentary

Consistent trades below the immediate hindrance of 908-905 may squeeze down prices lower to 890. If not hold the above region for a price recovery towards 924 followed by the SMA level of 940.

 

Zinc

Technical Commentary

Next phase of selling move may be seen only below Bollinger lower band level of 153.45 region. Else hold the same for a price recovery towards 157 then to 158.80.

 

Lead

Technical Commentary

Intraday recovery may establish only above the hourly EMA level of 142.70. Which if remained undisturbed may squeeze down prices further lower to 140.90 then to 140.20 region.

 

Aluminium

Technical Commentary

Weakness may largely to extend lower in the coming session towards the downside objective of 134 then to 132.80. But retreating trades above 135.60 could lift prices higher.

 

 

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