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

Posted in Commodities Reports| #Crude Oil #Gold #Aluminium #Natural Gas #Zinc #Copper #Commodity Tips #Silver #Nickel #Lead #Geojit Financial Services Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia

Download Telegram App before Joining the Channel

Gold

Technical Commentary

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

Silver

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

Copper

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.

Nickel

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.

Zinc

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.

Lead

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.

Aluminium

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.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer