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Published on 18/06/2019 8:54:11 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 18 June 2019 - Geojit Financial

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

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Gold Mini Jul/ LBMA Spot Gold

Technical Commentary

Expect a mild correction before resuming further up moves in the counter. Immediate supports at $1330 /1325 levels. Downside reversal point is seen at $1318.

 

Silver Mini Jun/ LBMA Spot Silver

Technical Commentary

Intraday bias likely to be choppy inside $15.15 -14.60 levels. Breaking any of the sides would suggest fresh direction to the commodity.

 

Copper Jun

Technical Commentary

Expect a choppy trade inside 400-412 levels initially, breaking any of the sides would suggest fresh direction to the commodity.

 

Nickel Jun

Technical Commentary

An initial correction is expected towards 858- 855 levels, followed by a consolidation and trigger rallies. However, weakness is expected only a close below 845.

 

Lead Mini Jun

Technical Commentary

Dips to 151 likely find support for a recovery rally towards the targets of 156/159 levels. A close below 151 would negate our positive outlook.

 

Zinc Mini Jun

Technical Commentary

Major support is seen at 197, which if cleared may see selloffs to 192/188 levels. Else, likely to continue the mild positive outlook.

 

Alumini Jun

Technical Commentary

While prices stay above 140 expect recovery moves in the counter. Else, would continue selling pressure.

 

Crude Oil Jun/ NYMEX Crude

Technical Commentary

Inability to move past $53.50 expect a corrective selling which could take prices till $51.50/50.50 levels. Rallies above $53.50 next res at $55. MCX support at 3510. Res 3800.

 

Natural Gas Jun

Technical Commentary

As long as 162 hold the downside, expect recovery moves to continue the day.

 

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