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Published on 29/10/2020 5:34:11 PM | Source: Geojit Financial Services Ltd

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

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Gold

Technical Commentary

As long as prices hold the EMA level of 50790 region upside, could expect prices to trade lower in the coming session towards the 50100 followed by 49780 region. Intraday buying may be seen only above 50790 region.

 

Silver

Technical Commentary​​​​​​

Current feebleness of prices largely to persist towards the downside objective of 58800 /58000 or even lower. But a vertical rise through 60800 could cajole fresh buying for today’s session.

 

Crudeoil

Technical Commentary

Present technical structure point to further weakness towards 2590 followed by 2540 region. In this bearish sentiments, rise above 2730 could lift prices higher.

 

Natural gas

Technical Commentary

Broad buying possibly to extend higher in the coming session towards the upside objective of 248/251.60 region. On the flipside, surprise fall below 238 could squeeze down prices lower.

 

Copper

Technical Commentary

As long as prices hold the obstacle of 532 upside could expect prices to trade lower in the coming session to 525.60 firstly then to 521 region. Although rise above 532 could lift prices higher.

 

Nickel

Technical Commentary

Prices look exhausted after recent runs and possibly to slip lower in the coming session towards 1158 firstly then to 1142. But reclaiming trades above 1182 could boost prices higher.

 

Zinc

Technical Commentary

Broad buying still intact and possibly to extend higher to 202.80 then to 203.60 region. But dip below 199.90 could squeeze down prices lower.

 

Lead

Technical Commentary

Major buying could witness only above the major obstacle of 149.80 region . Else hold the same for a corrective move towards the downside objective of 148.40 followed by 147.60.

 

Aluminium

Technical Commentary​​​​​​

Prices yet to mark trades above 151.30 region for an intraday buying. Else hold the same for a corrective move towards the Bollinger middle band level of 148.40 or even lower.

 

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