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Published on 24/04/2019 5:17:49 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report Of 24th April 2019 By Geojit Financial

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

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Gold

Technical Commentary

Substantial trades above the Bollinger middle band level of 31670 could lift prices higher. Else likely to float with in the downside obstacle of 31330.

 

Silver

Technical Commentary

Prices clearly held the trend line support of 36800 region. As long as prices hold the same level, can expect a recovery towards the upside objective of 37470 followed by 37630. Intraday weakness may be seen only below 36800.

 

Crude Oil

Technical Commentary

Prices look exhausted after consecutive days of gains and further buying could see only by reclaiming trades above the Fibonacci retracement hurdle of 4650 region. Inability to rise above 4650 may bid a long liquidation move towards 4590/4525.

 

Natural Gas

Technical Commentary

Ensuing selling momentum likely to continue in the coming session towards the Bollinger lower band level of 171.20 region or even lower to 169. However rise above 172.70 may lift prices higher.

 

Copper

Technical Commentary

Prices possibly to turn higher in the coming session towards the trend line objective of 450.30 followed by 453. But a direct fall past below the EMA level of 445.90 may grab prices lower.

 

Nickel

Technical Commentary

Broad bearish sentiments still on cards and expect to continue in the coming session towards the downside objective of 861 followed by 857. But remarkable trades above the internal trend line resistance of 879 could lift prices higher.

 

Zinc

Technical Commentary

Present buying sentiment less likely to persist until trend line hurdle of 199.40 region gives way. Inability to challenge above the same could call a corrective move towards the downside objective of 196.20 region.

 

Lead

Technical Commentary

Major recovery could see only above the internal trend line resistance of 135 region. Which if remain untouched could expect further selling pressure towards the 132.80 followed by 131.45.

 

Aluminium

Technical Commentary

Intraday move is expected to be upside towards the Bollinger upper band level of 131.75 region followed by trend line resistance of 132.50 region. On the flipside, a direct fall below 129.80 may defuse intraday buying sentiment.

 

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