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Published on 20/04/2020 4:26:29 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 20 April 2020 By Geojit Financial

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Gold

Technical Commentary

Decisive trades above the hourly SMA level of 46050 could lift prices higher to 46300 or even more. Failure to sustain above the hindrance above the same may push prices lower to 45500 followed by 45220.

 

Silver

Technical Commentary

If prices hold the below the EMA level of 43100,present long liquidation move may strengthen in the coming session towards the downside objective 42450 then to 41900. A major recovery may be see only above 43100.

 

Crude Oil

Technical Commentary

Broad weakness still intact and possibly to lengthen in the coming session towards the downside objective of 1780 followed by Bollinger lower band level of 1730.A price recovery could see only above 1890 region.

 

Natural Gas

Technical Commentary

Intraday move is expected to upside with an immediate objective of 136.60 then to 139. but fall below 132.40 may squeeze down prices lower.

 

Copper

Technical Commentary

Present recovery move may extend in the coming session towards the bollinger upper band level of 408.20 or even more to erstwhile trend line resistance of 411 region. Intraday weakness may be seen only below 403.60 region.

 

Nickel

Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards the upside objective of 958 then to long holding trend line resistance of 973 region. Intraday weakness could see only below 945 region.

 

Zinc

Technical Commentary

Inability to sustain above the immediate hurdle of 154 may call a long liquidation move towards the downside objective of 152.40 then to EMA level of 150.90.

 

Lead

Technical Commentary

If prices hold the SMA level of 137.70 could expect further weakness towards downside objective of 135.60 then to 134.30. On the flipside, determined trades above 137.70 could lift prices higher

 

Aluminium

Technical Commentary

As long as prices hold the trend line hurdle of 134.70 could expect a corrective move towards 133.20 followed by 132.50. Rise above 134.70 could lift prices higher.

 

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