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Published on 9/04/2020 5:02:43 PM | Source: Kedia Advisory

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 9 April 2020 By Geojit Financial

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Gold

Technical Commentary

Present technical formation and indicators point to further buying towards the upside objective of 45390 and 45560 there after. But unprecedented fall below 44800 could call a long liquidation move towards 44620/44240.

 

Silver

Technical Commentary

Inability to trade above the price obstacle of 43450 could anticipate a long liquidation pressure to 42400 followed by 41900. But conclusive trades above 43450 may revamp intraday buying towards 44000 region.

 

Crude Oil

Technical Commentary

Witnessing buying move likely to strengthen in the coming session towards the upside objective of 2090 or even higher to 2145. But fall below the hourly SMA level of 1955 may dent our buying expectation.

 

Natural Gas

Technical Commentary

Current long liquidation move likely to stretch lower to 137 followed by the EMA level of 134.80 .But determined trades above 141 may push prices higher.

 

Copper

Technical Commentary

Intraday move is expected to be upside with an immediate objective of 394 then to 397.50. Although unexpected fall below hourly bollinger middle band level of 389.20 may push prices lower.

 

Nickel

Technical Commentary

Present recovery sentiments may extend higher towards the upside objective of 899 firstly then to 910. In this positive note, unexpected fall below the candle low of 886.50 may squeeze down prices lower.

 

Zinc

Technical Commentary

Ensuing buying move possibly to persist towards slanting trend line resistance of 151.40 or even more. A direct fall below 148.20 may push prices lower to internal trend line support of 147.50 region.

 

Lead

Technical Commentary

Since prices broke the major hindrance of 135.30,which could invite fresh buying to 136.40 followed by 137.20. Downside turnaround level at trend lien support at 133.90 region.

 

Aluminium

Technical Commentary

If prices trade below the SMA level of 134 region could push prices lower towards the Bollinger lower band level of 131.20 region or even more. Rise above 134 may boost prices higher.

 

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