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Published on 3/04/2020 4:35:03 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 3 April 2020 By Geojit Financial

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Gold

Technical Commentary

Intraday move is largely to be northbound with an immediate price objective of 43920 the to 44180. In this positive note, fall past below 43420 may grab prices lower.

 

Silver

Technical Commentary

Present recovery momentum may extend higher to 41600 followed by the falling trend line resistance of 41950. On the other hand, surprise fall below 40800 may dent our buying expectation.

 

Crude Oil

Technical Commentary

Prices possibly to trade higher in the coming session towards the upside objective of 1995 then to bollinger middle band level of 2050. Unprecedented fall below 1840 may grab prices lower.

 

Natural Gas

Technical Commentary

Present feebleness of prices may extend lower towards the downside objective 118.40 then to bollinger lower band level of 114.90. On the flipside intraday price recovery could see only above 123.

 

Copper

Technical Commentary

Prices yet to clear above the fibonacci retracement level of 383 region to initiate next stage of recovery sentiments. Botched effort to crack above 383 may squeeze down prices lower towards the SMA level of 377.60 followed by 374.

 

Nickel

Technical Commentary

Decisive trades above 876 could boost prices higher to bollinger middle band level of 885 and 910 there after. Inability to challenge above 876 could push prices lower

 

Zinc

Technical Commentary

Determined trades above the intermediate trend line resistance of 148.20 could lift prices higher. Which if remain untouched could expect a corrective move towards 142.

 

Lead

Technical Commentary

Rise above the immediate hindrance of 135 could boost prices higher to 136.30 then to bollinger middle band level of 138.40. But there is equal plausible chance of price dip if prices failed to mark above 135.

 

Aluminium

Technical Commentary

As long as prices stay below the SMA hurdle of 134.80 region could expect further weakness towards the price objective of 131.70 then to 130.50. Intraday price recovery may be seen only above 134.80.

 

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