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Published on 21/09/2020 5:43:24 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Prices possibly to trade lower in the coming session towards the 50970 then to 50640. But rise above 51540 could bid a short covering move towards the upside objective of 51880 or even more.

 

Silver

Technical Commentary

Weakness may persist towards the downside objective of 65600 then to 64800 region. However, solid trades above 67400 could boost prices higher to 68100 or even more

 

Crude Oil

Technical Commentary

As long as prices hold below the 3025 could anticipate further weakness towards 2940 followed by 2890. However, sustained trades above 3025 could bid a recovery move.

 

Natural Gas

Technical Commentary

A recovery move may be seen as long as prices hold the support region of 143 and such move test the level of 151 then to 153.90. Next stage of weakness could see only below 143.

 

Copper

Technical Commentary

Witnessing selling momentum may extend lower in the coming session towards 530.30 then to 526.70 region. On the flipside, recovery above 535.80 could push prices higher.

 

Nickel

Technical Commentary

MACD negative cross over and technical chart formation point to further weakness 1062 then to 1050. In this bearish note, a recovery move 1092 could lift price higher.

 

Zinc

Technical Commentary

Slip past below the immediate downside hurdle of 194.30 could bid a long liquidation move towards the downside objective of 192.40 then to 190.60. Else hold the support of 194.30 for a reversal.

 

Lead

Technical Commentary

By breaking the downside obstacle of 146.20 may grab down prices lower to 145.50 firstly then to 143.80 region. Inability to crack below 146.20 could lift prices higher.

 

Aluminium

Technical Commentary

Prices still in stuck in a congestion region of 145.30-143.40. A firm move which breaks either side of aforementioned region could figure out fresh directional move for today’s session.

 

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