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Published on 22/04/2020 5:11:45 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 22 April 2020 By Geojit Financial

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Gold

Technical Commentary

Next stage of downside correction could see only below the SMA level of 45240 . Inability to challenge below the same could lift prices higher to 46300 then to 46850.

 

Silver

Technical Commentary

As long as prices hold the Bollinger middle band level of 41490 could extend weakness to 40700 then to Fibonacci retracement level of 40200. Intraday price recovery may be seen only above 41490.

 

Crude Oil

Technical Commentary

Dominant selling move likely to extend lower in the coming session towards the downside objective of 810 the to 680. But rise above 1130 may invite intraday recovery for today’s session.

 

Natural Gas

Technical Commentary

Weakness may continue towards the downside objective of 135 then to bollinger middle band level of 130.60. Price recovery could see only above 144.

 

Copper

Technical Commentary

If prices hold the Bollinger middle band level of 382.40 could expect price recovery to 392 then to 397. Fall below 382.40 would be an early sign of further weakness.

 

Nickel

Technical Commentary

As long as prices hold the trend line support of 898 could expect recovery to 934 then to 955. But fall past below 898 may squeeze down prices lower.

 

Zinc

Technical Commentary

As long as prices hold the SMA level of 148.90 could extend weakness to 145 then to 142.40 region. But reclaiming trades above 148.90 could lift prices higher.

 

Lead

Technical Commentary

Weakness could extend lower in the coming session towards 129.80 firstly followed by 127 region. But decisive trades above 132.80 region could push prices higher.

 

Aluminium

Technical Commentary

Broad selling could extend towards the downside objective of 129.80 then to sloping trend line support of 128.60 region. Intraday recovery could see only above 132 region.

 

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