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Published on 17/01/2020 5:35:36 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 17 January 2020 By Geojit Financial

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Gold

Technical Commentary

Prices need to break the immediate obstacle of 39880 for intraday price recovery. If not could anticipate a corrective move towards 39530.

 

Silver

Technical Commentary

Solid trades above the SMA level of 46900 could entice fresh buying for 47340 then to 47920 region. Inability to challenge above 46900 may squeeze down prices lower to 46100.

 

Crude Oil

Technical Commentary

Prices have been looming towards the EMA hindrance of 4215 region. Which if breaks in the coming session could extend further buying towards 4260 then to 4310. Failed to sustain above 4215 may grab prices low

 

Natural Gas

Technical Commentary

Simmering weakness could extend lower in the coming session towards 143 or even more to 140.30 region. In this dominant selling sentiments unexpected move above 148 may bid short covering move towards 151 then to 153.80.

 

Copper

Technical Commentary

Further buying may activate only above the Bollinger upper band level of 457 region. Else hold the same for a corrective move towards the downside objective of 451.80 then to 449.40.

 

Nickel

Technical Commentary

Next stage of weakness could trigger only below the 1008 region. Else hold the same for a price reversal towards 1038 then to 1050.

 

Zinc

Technical Commentary

Prices possibly to trade higher in the coming session towards resistance region of 184.70 region then to 186.80. Direct fall below 182.50 may push prices lower.

 

Lead

Technical Commentary

Failed to sustain above the EMA level of 152.90 could squeeze down prices lower to 150.40 then to Bollinger lower band level of 149.40 region. Major price recovery could witness only above 152.90.

 

Aluminium

Technical Commentary

Prices expect to trade higher in the coming session towards the upside objective of 142 or even more to Bollinger upper band level of 144. Fall past below the Fibonacci retracement level of 139.40 may push prices lower.

 

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