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Published on 17/09/2019 5:20:04 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 17 September 2019 By Geojit Financial

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

Gold

Technical Commentary

Voluminous trades above the internal trend line resistance of 38220 could lift prices higher. Failed attempt to swing above the aforementioned region may squeeze down prices lower to support region of 37750.

 

Silver

Technical Commentary

Suitable trades above the Fibonacci retracement level of 47600 could call next stage of buying. Failed to mark trades above 47600 region may entice long liquidation move towards the 46200.

 

Crude Oil

Technical Commentary

Broad buying still intact and possibly to extend higher in the coming session towards the 4510 then to 4570. However, weakening trades below 4360 could push prices lower to 4300 or even more.

 

Natural Gas

Technical Commentary

Determined trades above the Bollinger upper band level of 194 could boost prices higher. Unable to do so, could see a corrective move towards the downside objective of 188.50 then to 185.

 

Copper

Technical Commentary

Intraday move is expected to downside with an immediate objective of 451.30 followed by SMA level of 449.70. But rise above the 455.60 may push prices higher.

 

Nickel

Technical Commentary

Prices clearly held the Bollinger middle band level of 1207 region. As long as prices hold the same could lift prices higher to 1236 or even more. Fall past below 1207 may grab prices lower.

 

Zinc

Technical Commentary

Decisive trades above the EMA level of 187.50 could lift prices higher. Inability to crack above the same could grab prices lower Bollinger lower band level of 184 region.

 

Lead

Technical Commentary

Prices have been looming towards the EMA support of 153.60 region, which if breaks could extend weakness towards 152 or even lower. Failed attempt to crack below 153.60 could boost prices higher to 156 region.

 

Aluminium

Technical Commentary

By breaking the downside support of 139 region could extend weakness towards the downside objective of 138.30 followed by 137.70. Inability to break the internal trend line hurdle of 139 could call a price recovery move.

 

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