MENU

Published on 21/04/2020 4:56:49 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 21 April 2020 By Geojit Financial

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Gold

Technical Commentary

 

Current buying sentiments less likely to continue until the upside hindrance of 46300 region gives way. Failure to withstand above the same may grab prices lower to 45730 then to 45400.

 

Silver

Technical Commentary

Slippage below the immediate hindrance of 42450 may push prices lower. Else hold the same for further buying to 43500 or even more.

 

Crude Oil

Technical Commentary

Established selling momentum possibly to persist towards the downside objective of 1440 then to 1370. But emerging trade above the immediate hurdle of 1660 could lift prices higher.

 

Natural Gas

Technical Commentary

Witnessing recovery move is expected to be upside with an immediate objective of 149 or even more to 153.But dip below 143 may dent our buying expectation.

 

Copper

Technical Commentary

Present long liquidation move likely to continue towards the Fibonacci retracement level of 383 then to 380.60. A direct rise above 389 could boost prices higher.

 

Nickel

Technical Commentary

As long as prices trade below the Bollinger upper band level of 939.50 could squeeze down prices lower to 924 followed by EMA level of 917 region. On the flipside. Intraday recovery may be see only above 939.50.

 

Zinc

Technical Commentary

By breaking the Bollinger middle band level of 147.10 could extend weakness to 145.40 or even more. Inability to crack below 147.10 could call a short covering move towards the upside objective of 150.60.

 

Lead

Technical Commentary

Intraday move is expected to be downside with an immediate objective of 132.60 then to 131.40. But determined trades above the immediate hurdle of 134.70 could lift prices higher.

 

Aluminium

Technical Commentary

Current feebleness of prices may extend in the coming session towards the downside objective of 130.30 then to sloping trend line support of 128.60 region. Intraday recovery could see only above 131.80 region.

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer