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Published on 15/04/2020 5:27:35 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 15 April 2020 By Geojit Financial

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Gold

Technical Commentary

Prices have been trading in a oversold territory as per RSI indicator and we anticipate intraday move largely to be southbound unless prices gain above 46570 region.

 

Silver

Technical Commentary

Fall past below the 50-Day EMA level of 43050 could call an intraday long liquidation move. Other wise prices may retain broad buying sentiments and such price gain may test 44400 then to 44890.

 

Crude Oil

Technical Commentary

Broad weakness still intact and possibly to prolong in the coming session towards 1520 then to 1475. But rise above the erstwhile trend line support of 1605 could bid a short covering move to 1640 followed by 1690.

 

Natural Gas

Technical Commentary

Consecutive days of selling may extend lower in the coming session towards 120.40 then to 115.80. But surge above the hurdle of 126.50 could boost prices higher.

 

Copper

Technical Commentary

Intraday weakness could see only below 394 region. Which if remain untouched could bid a reversal move towards 401 or even higher to EMA level of 406.

 

Nickel

Technical Commentary

Decisive trades above the EMA level of 915 could extend present buying towards the upside objective of 924 or even more to 931. Failure to sustain above 915 may grab prices lower.

 

Zinc

Technical Commentary

Intraday weakness may be seen only below 150 region. If not, could extend present buying towards the upside objective of 152.30, then to bollinger upper band level of 153.20 region.

 

Lead

Technical Commentary

Successful trades above the bollinger middle band level of 136.50 could push prices higher. Else hold the hindrance of 134.50 for a price slippage to 133.70 region.

 

Aluminium

Technical Commentary

As long as prices hold the downside support of 132.80 could expect prices recovery to 134.80 then to EMA level of 135.70 region. Intraday weakness could see only below 132.80.

 

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