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Published on 20/05/2019 4:56:57 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report Of 20 May 2019 By Geojit Financial

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

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Gold

Technical Commentary

Solid trades above 31690 may lift prices higher. Other wise could anticipate a corrective move towards 31300 then to Bollinger lower band level of 31145.

 

Silver

Technical Commentary

Trend channel break out and MACD negative cross over pointing for further weakness in the coming session towards the 35780 followed by 35500. But reclaiming trades above 36450 may push prices higher.

 

Crude Oil

Technical Commentary

Prices clearly held the trend line hindrance of 4500 region and showed turn back in today’s session. However, prices yet to challenge below the formidable support region of 4380 for further weakness. Else hold the same for a prices recovery.

 

Natural Gas

Technical Commentary

Substantial trades above EMA level of 187.50 may lift prices higher towards the internal trend line objective of 190.60 or even higher. Else hold the obstacle of 187.50 for a reversal towards the trend line objective of 184.

 

Copper

Technical Commentary

Recent trend line break out and chart formation pointing for further weakness towards the Bollinger lower band level of 418.30 followed by 415.40. In this bleak sentiments, decisive trades above hourly candle high of 422.75 may lift prices higher.

 

Nickel

Technical Commentary

Further weakness could trigger only by sturdy trade below the Bollinger lower band level of 823 region. Botched effort to challenge 823 could bid a reversal towards 844.

 

Zinc

Technical Commentary

Prices have been looming towards the immediate hindrance of 186.50 region. Which if breaks could extend weakness towards the Bollinger lower band level of 184 region. Inability to win below 186.50 may call a short covering move towards 189.90.

 

Lead

Technical Commentary

Present chart formation and indicators pointing for further weakness towards the horizontal trend line support of 125.20 followed by 123.60. On the flipside, price recovery could see only above 128.30 region.

 

Aluminium

Technical Commentary

If prices remaine below the Bollinger middle band level of 127 region could expect further selling towards the downside objective of 124.60 followed by 123 region. A price recovery could witness only above 127.

 


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