Published on 29/05/2020 4:59:21 PM | Source: Geojit Financial Services Ltd

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

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Technical Commentary

Decisive trades above 46940 could boost prices higher. Else hold the same for downside corrective move to 46280 then to 46070.



Technical Commentary

Intraday move largely to be northbound towards the upside objective of 49800 then to 50380. But fall below the internal trend line support of 49050 may squeeze down prices lower.



Crude Oil

Technical Commentary

Revisiting trades above the Bollinger upper band level of 2575 could cajole fresh buying for today’s session. Inability to challenge above the mentioned region could grab prices lower to 2380 followed by EMA level of 2180.


Natural Gas

Technical Commentary

Direct rise above 143.90 could boost prices higher to 148.80 then to 150.70 region. Failure to crack above 143.90 may push prices lower



Technical Commentary

Intraday weakness could see only below 410.70 region. Else hold the same for a price recovery to 417.20 then to 420.60.



Technical Commentary

A major buying could see only above 941 region. If not could expect a corrective move towards the downside trend line objective of 920 then to 912.



Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards the upside objective of 159.45 then to 160.90. But dip below SMA level of 157.10 may squeeze down prices lower.



Technical Commentary


As prices established above the Bollinger middle band level of 131.30 could expect further buying to 133.10 followed by 134. On the flipside intraday weakness could see only below 131.30.



Technical Commentary

As long as prices hold the support of 130.90 could expect further recovery to 132.60 then to 133.10 region. Intraday weakness could see only below 130.90.


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