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Published on 17/04/2020 4:13:20 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 17 April 2020 By Geojit Financial

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Gold

Technical Commentary

Present long liquidation move may prolong in the coming session towards the downside objective 45650 then to Fibonacci retracement level of 45140 region. Although, recovery moves above 46350 may lift prices higher.

 

Silver

Technical Commentary

Long liquidation move likely to progress in the coming session towards 42700 initially then to 42150 levels where the moving average is placed. On the flipside, direct rise through 43600 could help prices to take off higher.

 

Crude Oil

Technical Commentary

Bearish sentiments largely to stretch lower in the coming session towards the bollinger lower band level of 1425 then to 1368 region. But recovery move above 1540 could bid a reversal move to upside.

 

Natural Gas

Technical Commentary

Present recovery move may largely extend to EMA level of 133.90 then to 135.80 region. But fall past below 129.40 may push price lower.

 

Copper

Technical Commentary

Prices have been approaching towards the immediate hindrance of 405.30 region. Break above the same could lift prices higher to 407.50 then to 409.30. Failure to mark trades above 405.30 may call a downside corrective move.

 

Nickel

Technical Commentary

Stabilizing trades above the EMA Level of 915 could extend buying to 924 firstly then to 931 region. Even though, reclaiming trades below 915 would be an early sign for a mild intraday weakness.

 

Zinc

Technical Commentary

Prices still have room for further buying towards the EMA level of 155.40 or even more. But surprise fall below the hourly candle low of 152.30 may bid fresh selling for today’s session.

 

Lead

Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards the upside objective of 139.20 followed by moving average level of 140.70. However, dip below 136 may squeeze down prices lower.

 

Aluminium

Technical Commentary

Intraday move is expected to be north bound towards the EMA hurdle of 135.65 followed by 136.80 region. But fall below 133.90 may push prices furhter lower.

 

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