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Published on 20/09/2019 5:11:54 PM | Source: Geojit Financial Services Ltd

Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 20 September 2019 By Geojit Financial

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

Gold

Technical Commentary

Major weakness could see only below the Bollinger lower band level of 37290. If not, could bid a short covering move towards 37900 or even more to SMA level of 38200.

 

Silver

Technical Commentary

If prices hold the support level of 46100, could anticipate a recovery move towards the upside objective of 47050 then to 47460. Fall past below 46100 may dent our buying expectation.

 

Crude Oil

Technical Commentary

Prices likely to trade flat with in the range of 4235–4120. A convincing move which breaks either side of the aforementioned region could set off the trend.

 

Natural Gas

Technical Commentary

By breaking the horizontal trend line support of 179 could extend weakness. Else, hold the support of 179 for a price recovery towards the 183.90, then to 186.70. But, determined trades below 179 may give pressure prices to lower.

 

Copper

Technical Commentary

Present weakness may strengthen only below the EMA level of 444.70. Inability to crack below the same could bid a reversal move towards the price objective of 449.50 and then to 451.30.

 

Nickel

Technical Commentary

Ensuing buying momentum may stretch further in the coming session towards the price objective of 1285 and then to 1293. Conversely, direct fall below 1258 may squeeze down prices lower to 1241.

 

Zinc

Technical Commentary

A major fall could see only below the hurdle of 182.50 region, which if remain undisturbed could rejuvenate intraday buying towards 185, followed by 185.80.

 

Lead

Technical Commentary

Ensuing buying sentiment likely to uphold in the coming session towards the upside objective of 156.40 and then to 157.20. But, crack below 154.20 may grab prices lower to trend line support of 153.30.

 

Aluminium

Technical Commentary

Sustainable trades above the EMA level of 139.30 could lift prices higher. Inability to crack above the same could bring down prices lower to 137.70 or even lower.

 

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