Intraday Technical Outlook 01 April 2021 - Geojit Financial
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Gold Mini Apr/ LBMA Spot Gold
Bearish outlook may continue as long as it stays below the support of $1760. However deep liquidation pressure is likely if it breaks below $1660. A direct rise above $1760 is a reversal of the current weak momentum. MCX GoldM Apr Res: 45140 Support: 42820.
Silver Mini Apr/ LBMA Spot Silver
Inability to move past $24.80 intraday bias likely to be on the weaker side towards $24 or even more. Reversal of current momentum is seen only a close above $25.20. MCX Silver Apr: Res at Rs 66250. Sup: 62220.
Copper Apr
If 657 remain hold the downside, expect recovery momentum for the day. A direct drop below 655 is a weak signal.
Nickel Apr
Upticks likely to continue as long as 1180 hold the downside. Anyhow major upside obstacle is seen at 1250.
Lead Apr
Prices continue with positive bias as long as 165 hold the downside. Further weakness is seen only a break of 162.
Zinc Apr
If 217 remains hold, expect rallies to continue the day. Weakness is seen only a close below 215.
Aluminium Apr
Prices continue to stay firm as long as it hold the support of 176. Further weakness is seen only a break of 173.
MCX Crude Oil Apr/NYMEX Crude Apr
Prices continue to be choppy inside $62-57.50 levels initially and breaking any of the sides would suggest fresh direction to the commodity. MCX Apr: Res at Rs 4520 / Support: Rs 4270.
Natural Gas Apr
Upside momentum may continue as long as it hold the support of 185. weakness is seen only a break of 177.
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