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Published on 1/07/2020 6:01:33 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 1 July 2020 By Geojit Financial

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Gold

Technical Commentary

Corrective dips below 48520 may invite fresh selling for the intraday session. Else, prices may hold the same level for broad buying to continue towards 49050 then to 49340.

Silver

Technical Commentary

Present buying sentiments likely to uphold in the coming session towards the upside objective of 51350 then to trend channel resistance of 51970 region. On the flipside direct fall below 49870 may push prices lower.

 

Crude Oil

Technical Commentary

Next stage of price recovery could see only above the Bollinger upper band level of 3120 region. Else, hold the same for a corrective move towards 2990 then to 2930.

 

Natural Gas

Technical Commentary

Prices possibly to trade higher in the coming session towards the upside objective of 133.30 followed by falling trend line resistance of 138.50 region. But fall below SMA level of 125.50 may push prices lower.

 

Copper

Technical Commentary

Prices expected to trade higher in the coming session towards the upside objective of 469 then to 472 region. But in this positive note, direct fall below the horizontal trend line support of 461.90 may push prices lower.

 

Nickel

Technical Commentary

Direct fall below the trend line support of 964 could squeeze down prices lower. Else hold the same for price recovery to 986 then to Bollinger upper band level of 993.

Zinc

Technical Commentary

Fall below the SMA level of 162.40 could push prices lower. Else hold the same for a price recovery to 165.40 then to 167 region.

 

Lead

Technical Commentary

Intraday move is largely to be north bound with an immediate objective of 145.80 then to 146.60 region. While fall below the Bollinger middle band level of 142.80 may push prices lower

 

Aluminium

Technical Commentary

Prices have been approaching towards the immediate Bollinger upper band hurdle of 138.60 region. Which if breaks could extend present buying towards the upside objective 140/141.90. Failed to crack above 138.60 may push prices lower.

 

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