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Published on 24/09/2020 5:46:32 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 24 September 2020 By Geojit Financial

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

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Gold

Technical Commentary

Current feebleness of prices may extend lower in the coming session towards the downside objective of 49150 then to 48650. But there is equal plausible chance of a price recovery if prices settled above 49900 region.

 

Silver

Technical Commentary

Current feebleness of prices may extend lower in the coming session towards the downside objective of 56000 followed by 55300. However decisive trades above 58400 could bid fresh recovery move.

 

Crude Oil

Technical Commentary

Intraday move largely to be northbound with an immediate price objective of 3005 then to 3040. In this positive note, slippage below 2880 may push prices lower to

 

Natural Gas

Technical Commentary

As long as prices hold the support region of 159 could expect prices to continue its recovery move toward the upside objective of 169 followed by 172. But break below 159 could squeeze down prices lower.

 

Copper

Technical Commentary

Prices have been approaching towards the immediate hindrance level of 513 region. Break below the same could induce fresh selling towards the EMA level of 508.40 region or even more. Failed attempt to break 513 could push prices higher.

 

Nickel

Technical Commentary

Ensuing selling sentiments may persist towards the downside objective of 1040 firstly then to 1028. Conversely, rise above 1068 could lift price higher to 1075 then to EMA level of 1084.

 

Zinc

Technical Commentary

Break below the Bollinger lower band level of 186.70 may squeeze down prices lower. Else hold the same for a price recoup towards 189.20/190.70. Else hold the support of 186.70 for price recovery.

 

Lead

Technical Commentary

Established trades below the Bollinger lower band level of 145.20 could squeeze down prices lower to 144 then to 142.90.However failed attempt to crack below 145.20 could lift prices higher.

 

Aluminium

Technical Commentary

As long as prices hold the downside hurdle of 142 region could expect a rebound towards the upside objective of 144 then to SMA level of 145.20 region. On the other hand, dip below 142 may push prices lower.

 

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