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Published on 15/05/2020 5:25:35 PM | Source: Geojit Financial Services Ltd

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

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Gold

Technical Commentary

Present buying sentiments may possibly to continue in the coming session towards the upside objective of 46940 then to 47190. But slippage below 46530 may push prices lower.

 

Silver

Technical Commentary

Ensuing buying sentiments likely to continue in the coming session towards the upside objective or 46250 then to 47000 region. But a steep fall below 45100 may dent our intraday buying expectation.

 

Crude Oil

Technical Commentary

Present recovery move may persist towards upside objective of 2180 then to 2250. But fall past below the Bollinger level of 2035 in hourly chart may trigger a short covering move.

 

Natural Gas

Technical Commentary

Present recovery move likely to he upheld in the coming session towards the upside objective of 132.90 then to EMA level of 137.10 region. On the flipside, fall past below 126.40 may grab prices lower.

 

Copper

Technical Commentary

Intraday move is expected to be downside with an immediate objective of 398.50 region followed by 395. Intraday price recovery may be seen only above 405.70 region.

 

Nickel

Technical Commentary

Present feebleness of prices likely to continue in the coming session towards 900 then to 886 region. A direct rise above 920 could lift prices higher.

 

Zinc

Technical Commentary

Break above the hindrance of 155.30 could lift prices higher to the upside objective of 156 then to Bollinger upper band level of 157.10 region. Else hold the same for a corrective move towards the 151.90.

 

Lead

Technical Commentary

As long as prices trade below the SMA level of 132.30 could extend weakness towards the downside objective of 129.30 firstly then to 128 region. A major price recovery could see only above 132.30 region.

 

Aluminium

Technical Commentary

Broad selling still intact and possibly to continue in the coming session towards the immediate objective of 129.30 followed by 128.50 region. Although, decisive trades above the internal trend line resistance of 130.70 could lift prices higher.

 

 

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