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Published on 8/04/2020 4:52:40 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, AluminiumCommodity Report of 8 April 2020 By Geojit Financial

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Gold

Technical Commentary

Broad buying still intact and possibly to extend higher in the coming session to 45150 followed by 45390 region. But unprecedented fall below 44580 may cajole fresh selling for today’s session.

 

Silver

Technical Commentary

As long as prices trade below the hindrance of 43300 could anticipate a long liquidation pressure to 42400 followed by 41900. Decisive trades above 43300 may revamp intraday buying for today’s session.

 

Crude Oil

Technical Commentary

Present selling momentum may strengthen only below the SMA level of 1820 region. Botched attempt to crack below the same could lift price back to 1945 then moving average level of 2025.

 

Natural Gas

Technical Commentary

Witnessing recovery moves may stretch higher to Bollinger upper band level of 146.70 then to 151.60. But direct fall below 140.60 may squeeze down prices lower.

 

Copper

Technical Commentary

Intraday weakness may establish only below the downside hindrance of 385.20 region. Else hold the same for further buying to 392 followed by 394.80 region.

 

Nickel

Technical Commentary

Ensuing buying sentiments likely to be upheld in the coming session towards the upside objective of 899 firstly then to 910. But slippage below 872 may dent our intraday buying expectation.

 

Zinc

Technical Commentary

Break below bollinger middle band level of 146.90 could extend weakness for today’s session. Which if remain untouched could bid intraday buying to 149.90 then to 152.

 

Lead

Technical Commentary

Inability to challenge above the internal trend line level of 135.30 could extend weakness to 133 firstly then to 132.20. But a direct rise above 135.30 may lift prices to SMA level of 135.90/137.20.

 

Aluminium

Technical Commentary

As long as prices trade below the SMA level of 134.20 region could expect further weakness towards the Bollinger lower band level of 131.40 region. A major price recovery could see only above 134.20.

 

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