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Published on 26/05/2020 5:07:10 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 26 May 2020 By Geojit Financial

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Gold

Technical Commentary

Intraday price recovery could see only above 47150 region. Which if remain undisturbed could expect prices to turn lower towards 46400 then to Bollinger middle band level of 46170.

 

Silver

Technical Commentary

Intraday move largely to be down side with an immediate objective of 48350 then to 47700 region. But rise above 49500 may lift prices higher.

 

Crude Oil

Technical Commentary

The bullish divergence in MACD oscillators and chart formation suggest further price recovery to 2650 then to 2670 region. But a sudden fall below 2480 may push prices lower.

 

Natural Gas

Technical Commentary

Prices seem to have held at the trend line support of 140 region. Break below the same may push prices lower to 136.60 then to Bollinger lower band level of 132.90. Else hold the hindrance of 140 for a price recovery.

 

Copper

Technical Commentary

Prices possibly to trade higher in the coming session towards the Bollinger upper band level of 419.70 then to 422.30 region. But fall past below 413 may squeeze down prices lower.

 

Nickel

Technical Commentary

Decisive trades above 941 could lift prices higher. Else hold the same for a corrective move towards the downside objective of 920 then to 912.

 

Zinc

Technical Commentary

Prices possibly to trade higher in the coming session towards the upside objective of 159 then to Bollinger upper band level of 160.90. In this positive note, sudden fall below 157.20 may push prices lower.

 

Lead

Technical Commentary

Prices possibly to float with in the trading range of 133.30-130.80. A firm move which breaks either side of the above mentioned region could set off the directional move.

 

Aluminium

Technical Commentary

As long as prices hold the downside hurdle of 129.50 region could expect price recovery to 131 then to SMA level of 131.80 region. But a direct fall below 129.50 may push prices lower.

 

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