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Published on 6/07/2020 6:06:31 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 6 July 2020 By Geojit Financial

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

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Gold

Technical Commentary

Fall below the Bollinger middle band level of 47780 may bid long liquidation move for today’s session. Inability to make such move may lift prices further higher to 48370/48500.

 

Silver

Technical Commentary

Intraday buying sentiments likely to uphold in the coming session towards the upside objective of 49900 firstly then to 50500. On the flipside, dip below 49100 may cajole fresh selling for intraday.

 

Crude Oil

Technical Commentary

If prices hold the support level of 2980 region could expect price recovery to 3130 then to Bollinger upper band level of 3198 region. But dip below 2980 may push prices lower to 2930 then to 2855.

 

Natural Gas

Technical Commentary

Present recovery move likely to withstand in the coming session towards the upside objective of 140.70 then to 143.50. But a slip below 135 may squeeze down prices lower.

 

Copper

Technical Commentary

Ensuing buying sentiments likely to uphold in the coming session towards the upside objective of 468 then to 469.90. On the flipside. Fall below 463.70 may push prices lower.

 

Nickel

Technical Commentary

Prices have been approaching towards the Bollinger upper band level of 996 region. Which if breaks could see further prices recovery to 1007 then to 1019. But botched attempt to crack above 996

 

Zinc

Technical Commentary

Determined trades above the intermediate trend line resistance of 164.20 could lift prices higher. Else hold the same for a corrective downside move to Bollinger middle band level of 162.50 then to 160.

 

Lead

Technical Commentary

Prices possibly to float higher in the coming session towards the immediate price objective of 144.90 then to 145.70 region. But fall below the Bollinger middle band level of 143.40 may dent our buying expectation.

 

Aluminium

Technical Commentary

As long as prices hold the support of 136 region could expect prices recovery to 137.90 then to 138.50 region. In this positive note, fall below 136 may cajole fresh selling for intraday.

 

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