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Published on 14/08/2020 4:49:24 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Ensuing buying may persist towards the upside objective of 52950 then to 53350. In this positive note, a long liquidation move below 52200 may push prices lower.

 

Silver

Technical Commentary

Broad buying still intact, but need to challenge above the hindrance of 71250 for such move. Else hold the same for a corrective move toward the downside of 67400 then 66200.

 

Crude Oil

Technical Commentary

Major buying could see only by promising trades above 3220 and such move may test 3240 initially followed by 3285. Inability to sustain above 3220 may push prices lower to 3090/3035.

 

Natural Gas

Technical Commentary

Prices largely to trade lower in the coming session towards the downside objective of 158.40 then to 155 region. But rise above trend line hurdle of 167 could lift prices higher.

 

Copper

Technical Commentary

Intraday weakness may establish only below 503.40 region. Which if remain untouched could expect prices recovery to 508.50 followed by Bollinger middle band level of 511.20.

 

Nickel

Technical Commentary

Intraday move is expected to be down side with SMA objective of 1068 firstly then to 1059. Nevertheless, rise above 1093 could lift prices higher.

 

Zinc

Technical Commentary

Prices possibly to trade in the range of 189.80-186. A firm move which come across any of the above mentioned region could set the directional move.

 

Lead

Technical Commentary

Prices possibly to trade lower in the upcoming session towards the 152.40 then to 151.80 region. But solid trades above the Bollinger upper band level of 155.50 could lift prices higher.

 

Aluminium

Technical Commentary

Decisive trades below the 143.60 may push prices lower. Else hold the same for price rebound towards 145.80 then to 147.

 

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