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Published on 14/05/2020 5:46:05 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 14 May 2020 By Geojit Financial

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Gold

Technical Commentary

Broad buying still intact and possibly to strengthen in the coming session towards 46350 then to Bollinger upper band level of 46670. On the flipside, direct fall below 45810 may push prices lower.

 

Silver

Technical Commentary

Prices still in the congestion region of 44100-42900.A firm move which breaks either side of the aforementioned region could set the direction.

 

Crude Oil

Technical Commentary

Direct rise above the hindrance of 2040 could lift prices further higher. Else hold the same for a downside corrective move.

 

Natural Gas

Technical Commentary

Broad selling may persist towards the downside objective of 119.50 then to 116.80 region. But in this bearish note, recovery trades above 126 may lift prices higher.

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Copper

Technical Commentary

If prices stay below the SMA level of 404 region could push prices lower towards the downside objective of 398.20 then to 395 region. But a direct rise above 404 could lift prices higher.

 

Nickel

Technical Commentary

Determined trades below 919 may push prices lower to 914 firstly then to 905. However, reclaiming trades above 932 could boost prices higher.

 

Zinc

Technical Commentary

Fall past below the trend line support of 150.60 could trigger further corrective move towards the downside objective of 149.40 then to 148.50. Else hold the hindrance of 150.60 for a prices recovery to 154 region.

 

Lead

Technical Commentary

Current feebleness of prices likely to extend towards the downside objective of 128 then to 126.40 region. But rise above the hindrance of 130.50 could boost prices higher.

 

Aluminium

Technical Commentary

Broad selling likely to retain in the coming session towards the immediate objective of 129.30 followed by 128.50 region. But retreating trades above 130.50 could push prices higher.

 

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