06-01-2023 11:00 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 01 June 2023 - Geojit Financial Services
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Gold LBMA Spot

Choppy trading expected initially. However, there are chances of recovery upticks to continue while prices stay above $1920.

Silver LBMA Spot

Recovery bias may continue but have stiff resistance at $24.20. A direct break below $22.40 would continue weakness.

Crude Oil NYMEX

If the support of $67 remains holds, expect mild recovery bias. Unexpected drop below the same would trigger weakness.

Gold KG Jun

If the support of Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a signa of downside reversal.

Silver KG Jul

AS long as prices stay above Rs 72000 it may continue with the positive momentum. A direct drop below Rs 70000 is a weak signal.

Crude Oil Jun

While prices stay below the support of Rs 5700 would extend weakness. Else, mild recovery can be seen today.

Natural Gas Jun

Inability to break the support of Rs 185 would trigger recovery upticks. Unexpected drop below the same would trigger further liquidation.

Copper Jun

If the support of Rs 698 hold downside expect recovery upticks for the day.

Nickel Jun

Expect choppy with thin volume trading in the near future.

Zinc Jun

Intraday trend remains on the weaker side as long as it stays below Rs 208. Trend reversal point is seen at Rs 225.

Lead Jun

Inability to move past Rs 182 there are chances of recovery bias. A direct drop of the same would trigger liquidation pressure.

Aluminium Jun

Consistent trades below Rs 205 may trigger selling pressure. Else, recovery bias expected the day.

 

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