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Published on 28/05/2020 5:51:30 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 28 May 2020 By Geojit Financial

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Gold

Technical Commentary

Rise above 46940 could boost prices higher. Botched attempt to sustain above the same could push prices to hourly EMA level of 46570 followed by 46290.

 

Silver

Technical Commentary

Decisive trades above 49500 could boost prices higher to the trend line resistance of 50200 followed by 50800. But fall below 48300 may squeeze down prices lower.

 

Crude Oil

Technical Commentary

Rise above the 2530 may boost prices higher. Failure to mark such trades may push prices lower to 2370 followed by erstwhile tend line resistance of 2290.

 

 

Natural Gas

Technical Commentary

Reclaiming trades above 146 could lift push prices higher. Else hold the same for a corrective move towards 140 then to EMA level of 136.90.

 

Copper

Technical Commentary

Weakness may persist towards the downside objective of 409 then to 407.20 region. But sturdy trades above 414.50 may lift prices higher.

 

Nickel

Technical Commentary

A firm move 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

Weakness may stretch lower in the coming session towards the downside objective of 154 firstly then to 153.20. On the other hand, price recovery could see only above 156.90.

 

Lead

Technical Commentary

Fall below 130.50 may squeeze down prices lower to 129.70 followed 128.80. Inability to sustained below the 130.50 may lift prices to 132.80.

 

Aluminium

Technical Commentary

Prices still hesitate to make substantial trades above the Bollinger middle band level of 132 region. If prices broke above the mentioned region could push prices higher to 132.80 followed by 133.40. Else hold the hurdle of 132 for a price slippage to 130.30/129.60.

 

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