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Published on 30/03/2020 4:56:51 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 30 March 2020 By Geojit Financial

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Gold

Technical Commentary

As long as prices remain above the downside trend line hindrance level of 42950 region could anticipate further buying to 43700 followed 44080 region. On the flipside, direct fall below 42950 may grab prices lower.

 

Silver

Technical Commentary

Sustainable trade below the SMA level of 39200 region could set off fresh selling towards the downside objective of 38600 then to 37900. Botched attempt to sustain below 39900 could revamp a short covering move to 40500 region.

 

Crude Oil

Technical Commentary

Prices expect to slip further in the coming session towards the downside objective of 1570 then to 1520 region. However retreating trades above 1690 may call a short covering for today’s session.

 

Natural Gas

Technical Commentary

Fall past below 121 could trigger next stage of selling move for today’s session. Failure to crack below 121 could call an intraday price recovery.

 

Copper

Technical Commentary

Price recovery still intact as long as prices stay above the downside hurdle of 868 region. But decisive trades below 368 may snatch prices lower.

 

Nickel

Technical Commentary

Break above SMA level of 874 could boost prices higher to 888 then to Bollinger middle band level of 897. Inability to challenge above 874 may grab prices lower to 847.

 

Zinc

Technical Commentary

Current feebleness of prices likely to extend lower in the coming session towards the downside objective of 138.80 followed by Bollinger lower band level of 136 region. Conversely, a rise above 143.10 may push prices higher.

 

Lead

Technical Commentary

Broad selling move may persist towards 129.90 then to 128.70. But strong gains above the cluster of moving average hindrance of 132.40 could push price further higher.

 

Aluminium

Technical Commentary

Fall past below the Bollinger lower band level of 132.40 could extend weakness for today's session. If this mentioned region remain untouched could call a mild recovery to 134.20/135.10 levels.

 

 

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