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Published on 1/05/2020 5:07:52 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Natural Gas, Copper, Nickel, Zinc, Lead, Aluminium Commodity Report of 1 May 2020 By Geojit Financial

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Gold

Technical Commentary

Prices possibly to trade lower in the coming session towards the downside objective of 44450 then to 44020 region. Conversely, intraday price recovery could see only above the Fibonacci retracement level of 45250 region.

 

Silver

Technical Commentary

Prices have been trading in congestion region of 41000- 42500. A firm move which breaks either side of the mentioned region could set intraday directional move.

 

Crude Oil

Technical Commentary

Early dips could be possible, but likely to gain momentum towards the upside objective of 1400 then to 1440 region . But fall below 1230 may dent our buying expectation.

 

Natural Gas

Technical Commentary

If prices hold the downside hurdle of 139.50 could expect price recovery to 148 then to Bollinger upper band level of 150.90 region. But fall past below 139.50 could squeeze down prices lower.

 

Copper

Technical Commentary

Prices likely to float lower in the coming session towards 401 then to 398. On the other, decisive trades above 407 may lift prices higher.

 

Nickel

Technical Commentary

By breaking the EMA level of 921 could extend weakness towards the downside objective of 906 followed by 886. Failure to crack below 921 could boost prices higher.

 

Zinc

Technical Commentary

As long as prices trade below the 153 could expect a corrective move towards the 150.30 followed by 148.50 region. Even in this bearish note, a surprise move above 153 could lift prices higher.

 

Lead

Technical Commentary

Current feebleness may stretch lower in the coming session towards 131.60 then to 129.30 region. Conversely, a price recovery may be seen only above 135.20 region.

 

Aluminium

Technical Commentary

Weakness may continue in the coming session towards the downside objective of 128.80 or even lower. But rise above 130.50 could lift prices higher.

 

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