Commodity Outlook By Tradebulls

Renewed cases of Covid-19 is keeping bulls in the hunt. Above $1820, we can see prices till $1850-$1870 in a short period

The US non-farm payroll data later in the day could either make gold break the $1,800 level and start fresh momentum on the upside or make the intermediate top

There is no divergence in Gold and prices are comfortably trading above its all-important moving average

Silver has made harami candlestick formation on daily charts

The outperformance in Silver is because it could benefit from optimism about increased industrial demand as economies reopen following the COVID-19 pandemic

Gold is trading in 'buy on dips' environment

Nickel took support around 900 and then bounced back till 932

The Rupee is finding resistance around 77.06 and upside momentum will continue above that level

The crude oil situation has made investors running for cash and dumping commodities

The rally is under threat only when gold breaks 44,500

Gold is trading near all time high and some pullback is expected. Instead of chasing prices at a higher level, we recommend to buy on dips near 44,300.

ADX is showing momentum on the upside for Gold

Equity class has seen a massive sell-off and investors are looking for assets to sell not bothering to see which asset to sell but finding which assets they can sell.

Rupee's ride from 71.80 to 73.20 was ferocious as in just three trading sessions, it lost more than 1.5 per cent

Gold is positive but overbought in short term, so, do not to take a fresh long position from here but let it come around to Rs 42,550 for fresh long positions

Commodities Outlook & Stock recommendation by Bhavik Patel - Sr. Technical Analyst

Commodities Outlook & Stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities

For the second time, most of the analysts think silver should rally as silver is undervalued compared to other precious metals like gold, platinum, and palladium.

Commodities Outlook & Stock recommendation by Bhavik Patel - Sr. Technical Analyst

Commodities outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities