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Published on 29/04/2020 5:09:38 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 29 April 2020 By Geojit Financial

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Gold

Technical Commentary

Dip below the immediate hindrance of 45700 could squeeze down prices lower. Else hold the same for an intraday buying to 46070 followed by 46340 region.

 

Silver

Technical Commentary

Inability to challenge above the EMA level of 43500 could bid a long liquidation pressure to 42200 then to 41800. Major buying could see only above 43500.

 

Crude Oil

Technical Commentary

Present recovery move likely to uphold in the coming session towards the Bollinger upper band level of 1170 then to 1260.Conversely, intraday weakness could see only below 1030.

 

Natural Gas

Technical Commentary

Prices possibly to trade higher in the coming session towards the bollinger upper band level of 150.80 then to 153. A direct fall below 145 may dent our buying expectation.

 

Copper

Technical Commentary

Intraday move largely to be southbound with an immediate objective of 404 then to SMA level of 401.In the bearish note, unexpected rise above 410 could push prices higher.

 

Nickel

Technical Commentary

As long as prices stay below the hindrance of 946 could expect weakness to 924 firstly then to moving average support of 919 region. Price recovery could see only above 946.

 

Zinc

Technical Commentary

Prices possibly to float in the prices range of 154.50-151. A firm move need to develop, which breaks either side of the mentioned region could set the direction.

 

Lead

Technical Commentary

As long as prices stay below the SMA level of 134.50 could extend weakness. But decisive trades above the 134.50 could lift prices higher to 135.40 then to SMA level of 138.

 

Aluminium

Technical Commentary

Witnessing selling bias may strengthen in the coming session towards the downside objective of 131.40 then to sloping trend channel support level of 130.80 region. Intraday price recovery could see only above the hourly EMA level of 133 region.

 

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