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Published on 19/05/2020 5:12:46 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 19 May 2020 By Geojit Financial

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Gold

Technical Commentary

Broad buying still intact and possibly to extend further in the coming session towards the upside objective of 46990 then to 47260.But direct fall below 46330 may squeeze down prices lower.

 

Silver

Technical Commentary

Ensuing buying sentiments possibly to persist towards the 49100 followed by 49800. But fall past below Bollinger lower band level of 47280 may squeeze down prices lower.

 

Crude Oil

Technical Commentary

As long as prices hold the Fibonacci retracement level of 2320 region could expect further price recovery to 2490 then to 2540 region. In this positive note, fall past below 2320 may push prices lower.

 

Natural Gas

Technical Commentary

Prices clearly held the Bollinger middle band level of 139.80 region in previous session. Which if remain undisturbed could extend weakness to 130 then to 127.

 

Copper

Technical Commentary

Prevailing buying sentiments likely to uphold in the coming session towards the upside objective of 412.60 followed by 415. But fall below 407.20 region may push prices lower.

 

Nickel

Technical Commentary

As long as prices hold the support of 923 region could expect prices to trade higher in the coming session towards 945 then 951 region. But a direct fall below 923 may push prices lower.

 

Zinc

Technical Commentary

Reclaiming trades above the Bollinger upper band level of 158.20 could lift pries higher. Else hold the same for a corrective move towards the downside objective of 156/154.80.

 

Lead

Technical Commentary

Rise above the Bollinger middle band level of 132.20 could push prices higher to 133 then to 134.80 region. Failed to sustain above 132.20 may squeeze down prices lower.

 

Aluminium

Technical Commentary

Prices likely to float with in the trading range of 131-129.40. A firm move which breaks either side of the mentioned region could set the directional move.

 

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