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Published on 5/06/2020 5:12:26 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 05 June 2020 By Geojit Financial

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

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Gold

Technical Commentary

As long as prices hold below the SMA level of 46720 could expect a corrective move towards the downside objective of 45970 then to 45610. On the contrary, rise above 46720 may invite a major buying for today’s session

 

Silver

Technical Commentary

We cannot rule a long liquidation move for today towards 48050 then to 47550. But decisive trades above 49300 may lift prices higher to 50250 or even more.

 

Crude Oil

Technical Commentary

Present recovery move likely to sustain in the coming session towards the upside objective of 2940 then to 3010. However, surprise fall below 2810 may push prices lower.

 

Natural Gas

Technical Commentary

Dip below 135.20 may squeeze down prices lower. Else hold the same for a intraday prices recovery to 141 then to Bollinger upper band level of 145.30 region.

 

Copper

Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards the Fibonacci retracement level of 432.20 then to 435. But dip below 424.80 would grab prices lower.

 

Nickel

Technical Commentary

Sturdy trades above Bollinger upper band level of 973 could lift prices to 980 followed by 988. Failed to crack above 973 may push prices lower.

 

Zinc

Technical Commentary

Present technical formation and indicators suggest the continuation of present recovery move towards the upside objective of 163.90 firstly then to 165.30. On the other hand fall below 161.80 would be an early sign for downside corrective move.

 

Lead

Technical Commentary

Ensuing recovery sentiments likely to uphold in the coming session towards the upside objective of 139.70 then to 140.50. But fall past below 137.30 may push prices lower.

 

Aluminium

Technical Commentary

Ensuing buying sentiments likely to strengthen in the coming session towards the horizontal trend line resistance of 135.60 then to 137. But slippage below 133.70 may grab prices lower.

 

 

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