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Published on 4/06/2020 6:11:56 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 04 June 2020 By Geojit Financial

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Gold

Technical Commentary

Revisiting trades below the Fibonacci retracement level of 45800 may grab prices lower. If not, could anticipate continuation of broad bullish momentum.

 

Silver

Technical Commentary

Solid trades above 49450 could lift prices higher. Failure to make such active moves may push prices lower to 48600 then to 48050. While substantial trades above 49450 may lift prices higher.

 

Crude Oil

Technical Commentary

Intraday move largely to be south bound with an immediate objective of 2710 then to 2675. But a direct rise above 2850 may cajole fresh buying for today’s session.

 

Natural Gas

Technical Commentary

Reclaiming trades below EMA level of 136.70 may grab prices lower. Inability to make such trades may push prices higher to 140.70 then to 143.40 region.

 

Copper

Technical Commentary

Further price recovery could see only above the 424.60 region. Else hold the same for a corrective move towards the 416.70 then to SMA level of 413.90 region.

 

Nickel

Technical Commentary

As long as prices hold the Bollinger upper band level of 967 could expect weakness towards the downside objective of 943 then to 935. On the flipside intraday recovery may be seen only above 967.

 

Zinc

Technical Commentary

Weakness may persist towards the Bollinger lower band level of 157.50 then to 156 region. But solid trades above hourly Bollinger upper band level of 161 region

 

Lead

Technical Commentary

Prices possibly to trade higher to 135.50 or even to 136.30 . Although surprise fall below 134 may call for a long liquidation move to 133.30 followed by SMA level of 132.

 

Aluminium

Technical Commentary

Present buying sentiments likely to uphold in the coming session towards the upside objective of 134.20 followed by 135.60. But direct fall below 132.20 may push prices lower.

 

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