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Published on 13/07/2020 4:45:58 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Price yet to make decisive trades above the Bollinger upper band level of 49360 for further gains. Inability to sustain above the same may snatch down prices lower to 48700 then to 48440.

 

Silver

Technical Commentary

Established buying move likely to uphold in the coming session towards the upside objective of 52740 then to 53200. However, fall below 51900 may squeeze down prices lower.

 

Crude Oil

Technical Commentary

Intraday move largely to be southbound with an immediate objective of 2940 firstly then to 2865 region. On the flipside a major prices recovery could see only above 3090.

 

Natural Gas

Technical Commentary

If prices hold the EMA level of 128.90 could expect a short covering move towards the upside objective of 138.90 then to Bollinger upper band level of 143.10. But surprise fall below 128.90 may push prices lower.

 

Copper

Technical Commentary

Ongoing price rally may largely extend higher in the coming session towards the upside objective of 506.70 followed by 509 region. Even in this bullish momentum, dip below 496 may squeeze down prices lower.

 

Nickel

Technical Commentary

Slippage below 1012 may push prices lower. If not could expect further price recovery towards the upside objective of 1031 then to 1045.

 

Zinc

Technical Commentary

Prices likely to uphold the present buying sentiments towards the 175.50 then to 177.20. In this positive note, fall below the Bollinger middle band level of 171.20 may push prices lower.

 

Lead

Technical Commentary

As long as prices hold the SMA level of 145.70 region could expect further recovery to 150 then to 151.60 region. But Fall below 145.70 may push prices lower.

Aluminium

Technical Commentary

Tangible trades above 141.30 could lift prices higher. Else hold the same for a corrective move towards erstwhile downside trend line resistance of 139.50 then to 138.30 region.

 

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