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Published on 23/04/2020 5:12:03 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 23 April 2020 By Geojit Financial

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Gold

Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards upside objective of 46790 then to 46950. But fall below 46150 may push prices lower.

 

Silver

Technical Commentary

Successful trades above the EMA level of 43000 could lift prices further higher. Botched attempt to win above the mentioned region could push prices lower to 42100/41650.

 

Crude Oil

Technical Commentary

Ensuing buying sentiments may possibly to continue in the coming session towards the upside objective of 1320 followed by SMA level of 1510 region. Dip below 1140 may push prices lower.

 

Natural Gas

Technical Commentary

Witnessing buying sentiments likely to be upheld in the coming session towards the upside objective of 151 then to 153.80 region. But a direct fall below 144 may grab prices lower.

 

Copper

Technical Commentary

Decisive trades above 403.60 could boost prices higher. Inability to crack above the same may grab down prices lower to 396 followed by 392.40 region.

 

Nickel

Technical Commentary

As long as prices hold Bollinger upper band level of 952 could extend weakness to 921 followed by 906. But reclaiming trades above 952 may revamp intraday buying towards 970 region.

 

Zinc

Technical Commentary

Fall past below the Bollinger middle band level of 147.60 could trigger fresh selling for today’s session to 146 followed by 144.30. Failure to crack below 147.60 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

Major price recovery could see only above the falling trend line resistance of 135.20. Which if remain undisturbed could extend weakness to 130.40 then to 128.70

 

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