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Published on 7/04/2020 5:14:07 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, AluminiumCommodity Report of 7 April 2020 By Geojit Financial

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Gold

Technical Commentary

Emerging bullish sentiments may continue in the coming session towards the upside objective of 45360 then to 45550.However slippage below 44820 would be an early sign for an intraday downside price correction.

 

Silver

Technical Commentary

Customary buying may persist towards the upside objective of 44600 then to trend line hurdle of 45470. Even though dip below the EMA level of 43000 may grab prices lower.

 

Crude Oil

Technical Commentary

Present recovery momentum may stretch higher towards 2140 then to 2220. Although unexpected fall below 1990 may push prices lower 1925 or even more.

 

Natural Gas

Technical Commentary

Ensuing recovery move likely to be upheld towards the price objective of 141 then to bollinger upper band level of 144.90. However, slippage below 132.50 may squeeze down prices lower.

 

Copper

Technical Commentary

Intraday move is expected to be upside towards the bollinger middle band level of 390 then to 394.40. But fall below 384 may push prices lower.

 

Nickel

Technical Commentary

Successive trades above the internal trend line resistance of 885 could boost prices higher.Else could expect a downside corrective move towards 861/853.

 

Zinc

Technical Commentary

Intraday move largely to be north bound with an immediate price objective 150.70 then to 153. But a direct fall below 147.40 may cajole fresh selling for intraday.

 

Lead

Technical Commentary

As long as prices trade below the SMA level of 136 region could extend weakness to 133 firstly then to 132.20. On the flipside, intraday price recovery could see only above 136.

 

Aluminium

Technical Commentary

Prices possibly to slip lower towards the downside objective of 132.40 followed by the bollinger lower band level of 131.50.But rise above SMA level of 133.45 could lift prices higher.

 

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