MENU

Published on 11/05/2020 5:34:14 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 11 May 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

Gold

Technical Commentary

A long liquidation move likely to progress in the coming session towards the downside objective of 45440 then to 45330. But direct rise above 45920 could lift prices higher.

 

Silver

Technical Commentary

Prices expected to turn lower in the coming session towards the 43100 then to EMA level of 42745 region. On the other hand, price recovery could see only above 43900 region.

 

Crude Oil

Technical Commentary

Prices possibly to float within the trading range of 1750 -1920. A firm move which breaks either side of the above mentioned region could set the trend.

 

Natural Gas

Technical Commentary

Major selling could see only below the internal trend line support of 136.50. Which if remain undisturbed could expect a rebound towards the upside objective of 142.80 then to 145.70.

 

Copper

Technical Commentary

Solid trades above the 410.80 could boost prices higher towards the upside objective of 412.50 firstly then to 415 region. Failure to crack above 410.80 may squeeze down prices lower.

 

Nickel

Technical Commentary

As long as prices stay above the Bollinger middle band level of 927 could expect price recovery to 943 then to 952. Intraday weakness may be seen only below 927.

 

Zinc

Technical Commentary

Ensuing buying sentiments likely to be upheld in the coming session towards the Bollinger upper band level of 156.10 then to trend line hurdle of 157. On the other hand, direct fall below 154.20 could push prices lower.

 

Lead

Technical Commentary

Intraday recovery could see only above the Bollinger upper band level of 133 region. Inability to crack above the same could extend weakness to 130.40 or even lower.

 

Aluminium

Technical Commentary

Prices possibly to slip lower in the coming session towards the downside objective of 130.80 then to Bollinger lower band level of 129.70. Intraday price recovery could see only above 132.50.

 

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