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Published on 9/07/2020 5:38:42 PM | Source: Geojit Financial Services Ltd

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

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

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Gold

Technical Commentary

Prices seen loosing steam as it move closer to the trendline objective of 49500 region. Meanwhile, corrective dips below 48810 region may negate buying expectation for the intraday.

 

Silver

Technical Commentary

A sustained trade above the trendline objective of 51250 region could initiate next stage of buying. While a dip below the horizontal resistance of 51060 could negate intraday buying expectations.

 

Crude Oil

Technical Commentary

Prices seen trading sideways within the past few days trading range. A range bound trade within the Bollinger region of 3095-3040 expected in the intraday. Any moves past either of these directions can could signal intraday direction.

 

Natural Gas

Technical Commentary

Prices seen locked up within previous day’s trading range. Immediate recovery may move up towards the Bollinger upper band level of 142.40 region. However, major buying can only be expected above the trendline resistance of 148 region.

 

Copper

Technical Commentary

Persistent buying is witnessed in the counter as it move higher towards 488 region and to 493.50 region on the horizontal resistance. A Major weakness is expected only below the rising trendline support of 483.30 region.

 

Nickel

Technical Commentary

Prices seen consolidating below resistance of 1023 on the rising trend line. Firm trades above the same region could initiate next stage of buying. Else, corrective dips may be expected holding the same resistance.

 

Zinc

Technical Commentary

Prices may edge further higher towards the rising trendline objective of 172.60 region. A sustained trades above the same region can make prices firmer. Else, a consolidation or mild correction may be witnessed below the resistance.

 

Lead

Technical Commentary

Prices expected to move upward to the trend line resistance region of 148.30, a break above which may add buying pressure. Holding the same resistance, prices may move into consolidation or mild correction.

 

Aluminium

Technical Commentary

The persisting buying momentum may move closer towards 143.50 on the falling trend line. Whereas a voluminous dip below 138.90 may negate buying expectation.

 

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