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Published on 13/08/2020 5:37:04 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Broad bullish trend still unharmed, but need to challenge above the 52820 to continue towards 53350 region then to 53990. Botched attempt to win above 52820 may push prices lower.

 

Silver

Technical Commentary

Broad buying still intact and possibly to strengthen in the coming session towards the upside objective of 68500 then to 71200. But slippage below 65400 may push prices lower.

 

Crude Oil

Technical Commentary

Convincing trades above 3220 could push prices higher to 3240 initially followed by 3285. Inability to sustain above 3220 may push prices lower to 3155 followed by 3090.

 

Natural Gas

Technical Commentary

Prices possibly to turn lower in the coming session towards the downside objective of 160.40 then to 156.50 region. Rise above 166 could cajole fresh buying for today’s session.

 

Copper

Technical Commentary

As long as prices trade below the upside obstacle of 515 may grab prices lower to 508 firstly then to 505.20 region. However, remarkable trades above the 515 could lift prices higher to 517.80 then to Bollinger upper band level of 522.

 

Nickel

Technical Commentary

Prices possibly to trade higher in the coming session towards the upside objective of 1085 then to 1103. In this positive note, dip below 1067 may push prices lower.

 

Zinc

Technical Commentary

Major buying may withstand only above the upside hindrance of 190.40 region. Otherwise, could push prices lower to 186.80 then to 184.70.

 

Lead

Technical Commentary

Determined trades above the immediate hindrance of 154.40 could lift prices higher. Failure to crack above the same may push prices lower to 152.30 firstly then to 150.80 region.

 

Aluminium

Technical Commentary

Intraday weakness may be seen only below the downside hindrance of 144.60 region. Else hold the broad recovery to 147 then to 147.80 region.

 

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