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Published on 25/05/2020 5:24:41 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 25 May 2020 By Geojit Financial

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Gold

Technical Commentary

A positive trend is expected to witness in the counter as long as prices trade above horizontal support of 46500. Firm movement above 47970 could make a stronger trend in the prices. Whereas a slip below 46500 could negate buying expectations.

 

Silver

Technical Commentary

Prices may appear firm with mild corrective moves in the intraday. Slip below 47380 may induce weakness in the counter.

 

Crude Oil

Technical Commentary

The bullish divergence in MACD oscillators suggest the further upside movement in the counter. However to attain momentum, prices have to break above the trend line resistance of 2650.

 

Natural Gas

Technical Commentary

Prices seem to have held at the trend line support of 140 region. However, Bearish widening in MACD oscillators rule out firm recovery moves. A slip below 140 region could induce weakness.

 

Copper

Technical Commentary

Present bearish moves may find support at the trend line region of 406.90. Mild recovery may find in the counter if prices hold at the above mentioned support, else, corrective dips may be witnessed.

 

Nickel

Technical Commentary

Falling below the support of 915.40 on the trend line could pressure prices further lower towards 904.50 or even lower. Whereas, if the support is held price may recover higher levels.

 

Zinc

Technical Commentary

Prices need to break above the 160 region on the trend line for a sustained buying momentum. Else, the movement will be largely locked within the range of 154-160 in the coming session.

 

Lead

Technical Commentary

Intraday trades would be largely within the trading range of 128.20-132.30 in the upcoming session. Breaking either levels could set direction in the counter.

 

Aluminium

Technical Commentary

Present feebleness in prices may find support at 129.60 region. Breaking below the same may induce weakness in the counter.

 


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