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Published on 13/04/2020 4:55:47 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 13 April 2020 By Geojit Financial

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Gold

Technical Commentary

Broad buying sentiments likely to uphold in the coming session towards the upside objective of 46420 followed by the bollinger upper band level of 46670. But sustained trades below 45920 may squeeze down prices lower.

 

Silver

Technical Commentary

As long as prices trade above the 43450 could expect further recovery to 44300 then to 44970. But slippage past 43450 may push prices lower to the EMA level of 43060 then to 42650.

 

Crude Oil

Technical Commentary

As long as prices trade below the SMA level of 1848 could anticipate further downside correction towards 1690 then to 1645 region. Intraday recovery could trigger only above 1848.

 

Natural Gas

Technical Commentary

Present long liquidation pressure likely to persist towards downside objective of 132.40 followed by the SMA level of 129.20. But surprising move above 138.60 could push prices higher.

 

Copper

Technical Commentary

Witnessing recovery momentum may prolong towards the upside objective of 403.30 followed by EMA level of 406 region. Conversely, fall past below 395.40 may cajole fresh selling for today’s session.

 

Nickel

Technical Commentary

Current recovery sentiments may possibly to continue towards the EMA level of 916 firstly then to 931 region. On the flipside, surprise fall below 892 may dent our buying expectation.

 

Zinc

Technical Commentary

Prices still stuck in a consolidation region ,but decisive trades above the immediate hurdle of 150.20 could lift prices higher. Botched effort to win above 150.20 may bid intraday selling to 147.40 followed by SMA Level of 146.

 

Lead

Technical Commentary

Sustainable trades above the bollinger middle band level of 136.80 could lift prices higher. Failure to sustain above the same may squeeze down prices lower to 135 region.

 

Aluminium

Technical Commentary

By breaking the downside hurdle of 132.80 may trigger fresh selling for today’s session. Inability to challenge below the aforementioned region could trigger a reversal move towards 134 then to EMA level of 135.80.

 

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