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Published on 27/05/2020 5:11:09 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 27 May 2020 By Geojit Financial

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Gold

Technical Commentary

As long as prices hold the below the SMA level of 46500 could expect prices to trade lower to 45960 then to Fibonacci retracement level of 45730.

 

Silver

Technical Commentary

Fall below the 47600 may squeeze down prices lower to 46800 then to 46300. Inability to crack below 47600 could lift prices higher 48900 then to 49300 region.

 

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

Present buying sentiments likely to persist towards the upside objective of 153 then to 157.20. But direct fall below 145 may squeeze down prices lower.

 

Copper

Technical Commentary

Prices possibly to trade higher in the coming session towards the upside objective of 417.90 then to Bollinger upper band level of 420.10 region. Fall past below 411.70 may push prices lower.

 

Nickel

Technical Commentary

Determined trades above 941 could lift prices higher. If not could expect a corrective move towards the downside trend line objective of 920 then to 912.

 

Zinc

Technical Commentary

Break below the Bollinger middle band level of 155.60 may push prices lower. Else hold the same for a price recovery to 159.45 followed by 161.20 region.

 

Lead

Technical Commentary

Prices still trapped in the trading range of 133.30-130.80. A solid move which breaks either side of the mentioned region could set the directional move.

 

Aluminium

Technical Commentary

Sturdy trades above the Bollinger middle band level of 132 region could lift prices higher to 132.80 then to 133.40 region. But fall below 130.60 may grab prices lower.

 

 

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