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Published on 3/04/2020 9:34:10 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 1 April 2020 - Geojit Financial

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

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Gold Mini May/ LBMA Spot Gold

Recovery upticks may continue as long as $1545 hold the downside. However, strong resistance is seen at $1642 break of which is required to trigger strong rallies. A close below $1445 is a signal of reversal of present bullish outlook and take prices lower. MCX GoldM Apr: Res at Rs 43440. Sup: 42750.

 

Silver Mini Apr/ LBMA Spot Silver

Inability to move past $14.80, expect corrective selloffs for the day. However, a direct drop below $12.10 would call for major liquidation pressure in the counter. Unexpected rise above $15 would target $15.85 or even more later. MCX Feb: Res at 41850 Sup: 39220.

 

Copper Apr

Expect recovery moves as long as 376 hold the downside. Meanwhile, 396 is a key upside obstacle which needs to be cleared for continuation of further rallies.

 

Nickel Apr

If the support of 835 undisturbed expect recovery moves to continue towards 878 initially. Unexpected decline below 828 is an early signal of weakness.

 

Lead Mini Apr

Breaking the immediate resistance of 137 is required to continue upticks in the counter. Else, may see corrective selling pressure for the day.

 

Zinc Mini Apr

Expect recovery upticks as long as prices stay above 142. A direct dip below 137 would continue selling pressure.

 

Alumini Apr

Prices needs to break 135 to continue rallies. Else, may see corrective selling pressure for the day.

 

Crude Oil Apr/ NYMEX Crude

Support of $19 needs to be cleared for continuation of selling pressure for the day. Else, may see a choppy trading initially. Consistent trades above $28 would reverse the present momentum and can take prices higher to $33 or more later. MCX Mar: Res at 2040/ Support: 1680.

 

Natural Gas Apr

Expect a choppy trade inside 117—127 levels initially. Breaking any of the sides would suggest fresh direction to the commodity.

 

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