MENU

Published on 31/03/2020 5:10:23 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 31 March 2020 By Geojit Financial

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Gold

Technical Commentary

As long as prices remain below the trend line hindrance level of 43640 region could expect long liquidation to 43080 followed 42800 region. Rise above 43640 may cajole next stage of buying sentiments.

 

Silver

Technical Commentary

Inability to trade above the intermediate trend line resistance of 40600 region could set off fresh selling towards the downside objective of 39500 then to 38700. On the other hand, price recovery may be see only above 40600.

 

Crude Oil

Technical Commentary

Determined trades above the hourly bollinger level of 1695 could boost prices higher to 1760 followed by EMA level of 1810 region. Failure to challenge above 1695 may push prices lower to 1600 firstly then to 1560.

 

Natural Gas

Technical Commentary

Prices expect to trade higher towards 133 then to EMA level of 134.90 region. But unexpected fall through 129 would be an early sign for intraday downside corrective fall.

 

Copper

Technical Commentary

Decisive trades above the fibonacci retracement level of 383.30 may revamp intraday buying towards 386 then to 389 region. Else hold the region of 383.30 may push price lower

 

Nickel

Technical Commentary

Break above the hurdle of 874 could boost prices higher to 888 then to bollinger middle band level of 893.50. Failed to sustain above 874 may grab prices lower to 855.

 

Zinc

Technical Commentary

As long as prices trade above the horizontal trend line support of 140.80 could expect further buying toward 145.40 then to 146.80 region. But slip below 140.80 may squeeze down prices lower.

 

Lead

Technical Commentary

Ensuing recovery move is likely to be upheld towards 134.30 or even more to 136 region. But fall past below 131.60 may grab prices lower.

 

Aluminium

Technical Commentary

Intraday move is expected to be upside towards the SMA objective of 135.30 then to 136.80.However a direct fall below 133.40 may push prices lower.

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer