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Published on 19/08/2019 5:10:41 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 19 August 2019 By Geojit Financial

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

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Gold

Technical Commentary

If prices hold the support of 37160 could expect rebound higher towards the upside objective of 37500 then to 37790. On the flipside, dip below 37160 could squeeze down prices lower to the candle low of 36870

 

Silver

Technical Commentary

Prices likely to turn lower towards the SMA level of 42740 region firstly then to Bollinger lower band level of 42330. In this intraday weak bias, determined trades above 43920 could call further buying.

 

Crude Oil

Technical Commentary

As long as prices remained above the horizontal trend line support of 3880 downside, could lift prices to 4035 and 4092 there after. But surprise move below 3880 could squeeze down prices lower.

 

Natural Gas

Technical Commentary

Prices seen trading well in the falling trend channel with slight positive bias. But a direct fall below the horizontal trend line support of 152.40 could push prices lower.

 

Copper

Technical Commentary

Decisive trades above the immediate trend line hurdle of 451.60 could lift prices higher. If not could expect a corrective move towards the Bollinger middle band level of 445.40 region.

 

Nickel

Technical Commentary

Revisiting trades above the horizontal trend line resistance of 1142 could lift prices higher. Else could anticipate a long liquidation move towards 1115 followed by 1102.

 

Zinc

Technical Commentary

Weakness may persist in the coming session, but need to sustain below 181.90 for the next phase of selling move. Inability to break below 181.90 could push prices to 184.90 then to 186.30.

 

Lead

Technical Commentary

Since prices broke the hurdle of 153 region could expect further downside corrective move towards 152.10 followed by Bollinger lower band level of 150.75.

 

Aluminium

Technical Commentary

Reclaiming trades above the horizontal trend line resistance of 141.50 could lift prices higher. Failed to challenge above the same could push prices lower to Bollinger lower band level of 140.20 then to 139.40.

 

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