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Published on 13/05/2020 5:17:42 PM | Source: Geojit Financial Services Ltd

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

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Gold

Technical Commentary

Reclaiming trades above the Bollinger middle band level of 45850 region could bid fresh buying for today’s session. Else hold the same for a corrective move towards 45280 then to 45030.

 

Silver

Technical Commentary

Prices possibly float within the trading range of 44100-42900.A firm move which breaks either side of the mentioned region could set the direction.

 

Crude Oil

Technical Commentary

As long as prices hold the EMA level of 2010 could expect further weakness towards the downside objective of 1850 then to 1770. Rise above 2010 may lift prices to 2065 then to 2099.

 

Natural Gas

Technical Commentary

Weakness could extend lower in the coming session towards the trend line objective of 124.60 then to 122. But retreating trades above 133 may bid a short covering move.

 

Copper

Technical Commentary

As long as prices stay below the SMA level of 404.40 region could expect a price correction towards the downside objective of 398.60 then to 395 region. On the flipside ,intraday price recovery could see only above 404.40 region.

 

Nickel

Technical Commentary

Direct fall below 919 may push prices lower to 914 firstly then to 905. But sturdy trades above 932 could boost prices higher.

 

Zinc

Technical Commentary

Previous session weakness may stretch lower in the coming session towards the Bollinger middle band level of 151.70 then to 149.60 region. Intraday prices recovery may be seen only above 154.20 region.

 

Lead

Technical Commentary

Present weakness may continue towards the downside objective of 129.60 then to trend line support of 128 region. A major prices recovery may establish only above 132.60

 

Aluminium

Technical Commentary

Decisive trades below the Bollinger lower band level of 129.30 may grab prices lower to 128.50 then to 127.30 region. Failure to crack below the hurdle of 129.30 could lift prices higher to 130.70.

 

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