Gold, Silver, Crude Oil, Copper, Nickel, Zinc Commodity Report of 09 October 2019 By Geojit Financial

Investment Guru India

Gold

Technical Commentary

Prices possibly to tread lower in the coming session towards 38030 followed by the SMA level of 37780. However, rise above the hourly candle high of 38390 may push prices higher.

Silver

Technical Commentary

Stable trades above 46350 could push prices to 46800 then to 47250. Inability to reclaim trades above 46350 may push prices lower to Fibonacci retracement level of 45200.

Crude Oil

Technical Commentary

Promising trades above 3830 could lift prices to 3870 followed by 3915. Botched attempt to sustain above the level of 3830 may squeeze down prices lower 3700.

Natural Gas

Technical Commentary

Region of 161 looks to formidable region for seller to gain the momentum and such active trade may push prices lower to Bollinger lower band level of 157.50 or even lower. Else hold the level of 161 for a price recovery to 167.40 or even more

Copper

Technical Commentary

Determined trades above the 440.50 could lift prices to EMA level of 442 then to 444.30. Botched attempt to crack above the level of 440.50 may squeeze down prices lower to 435.50 then to 432.60.

Nickel

Technical Commentary

Intraday weakness could establish only by reliable trades below the support region of 1240. Failed effort to close below the aforementioned region could push prices to 1270 followed by the Bollinger upper band level of 1282.

Zinc

Technical Commentary

By breaking the level of 179.80 with significant volume could squeeze down prices lower to 177.60. Else, could expect a price lift towards the Bollinger middle band level of 182.50 or even more.

Lead

Technical Commentary

Fall past below the Bollinger middle band level of 154.90 would be an early sign of further selling towards the downside objective of 153.70 then to 152.80. Inability to challenge below the level of 154.90 could call reversal move towards 156.70.

Aluminium

Technical Commentary

As long as prices remain below the hindrance of 136.20 could expect a corrective move towards the downside objective of 134.40/133.50. But stalwart trades above the level of 136.20 may boost prices to EMA level of 137.70.

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