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Published on 18/09/2020 5:50:47 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 18 September 2020 By Geojit Financial

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

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Gold

Technical Commentary

Decisive trades above 51880 could entice fresh buying for today’ s session. But failed effort to challenge above 51880 may squeeze down prices lower to 51270 then to 51020.

 

Silver

Technical Commentary

Major prices recovery could establish only above 69200 region. Failed attempt to withstand above the same may push prices lower to 67000 followed by 66200.

 

Crude Oil

Technical Commentary

As long as prices hold the support level of 2990 region could anticipate further buying towards 3090 followed by 3125. But direct fall below 2990 could squeeze down prices lower.

 

Natural Gas

Technical Commentary

MACD bearish crossover and its divergence suggest possibility of further weakness to 145 followed by 139. On the flipside, rise above 154 could bid short covering move for today’s session.

 

Copper

Technical Commentary

Broad buying still intact and possibly persist only by promising trades above 534.50 region. Else hold the same for a dip towards the 529 firstly then to SMA level of 525.60 region.

 

Nickel

Technical Commentary

Present technical formation suggest a possible corrective move towards the downside objective of 1096 then to 1089. However, determined trades above 1112 could lift prices higher.

 

Zinc

Technical Commentary

Major weakness could see only below the Bollinger middle band level of 194.10 region. Which if remain untouched in today’s session could expect broad buying to persist towards 198 then to 200.

 

Lead

Technical Commentary

Intraday buying may be seen only above the 149.60 region. Inability to mark such trades may squeeze down prices lower to 147.20 then to 146.

 

Aluminium

Technical Commentary

Prices possibly to float with in the trading range of 145.20-143.30. A determined move which breaks either side of the above mentioned region could set the trend.

 

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