Published on 8/11/2019 6:00:06 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 08 November 2019 By Geojit Financial

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

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Technical Commentary

Present long liquidation pressure may extend lower in the coming session towards the immediate level of 37530 region followed by 37310. On the other hand, price recovery could see only above 37970 .



Technical Commentary

Weakness may persist in the upcoming session towards 43880 then to trend line support of 43540 region. However, rise above the level of 44800 could call recovery move towards the Bollinger middle band level of 45680.


Crude Oil

Technical Commentary

Fall past below the trend line support of 3980 could squeeze down prices lower 3920 followed by 3890 region. On the flipside, failed to mark trades below the region of 3980 could lift prices higher.


Natural Gas

Technical Commentary

As long as 196 region holds downside could anticipate further buying towards 203.40 then to 206 region. But break below the internal trend line support of 196 may grab prices lower.



Technical Commentary

Significant trades above the hurdle of 446.90 could lift prices higher. Else, hold the same for price reversal towards the downside objective of 442.40 then to EMA level of 440.90.



Technical Commentary

Ongoing consolidation possibly to continue in today’s session. But, determined trades which breaks either side of the trading range of 1162- 1187 could set the directional move.



Technical Commentary

Established buying sentiments likely to uphold in the coming session towards 195 or even higher. But fall past below the region of 192.60 would be an early sign for a downside corrective move.



Technical Commentary

Tangible trades above the Bollinger middle band level of 157.10 could boost prices higher to 158 then to 158.70. Failed to crack above the above mentioned region may grab prices lower to 155.20.



Technical Commentary

Ensuing recovery move likely to persist towards the upside objective of 136.30 then to 138.20. But weakening trades below the EMA level of 134.60 may grab prices lower.


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