Commodity Intraday Technical Outlook 01 June 2023 - Geojit Financial Services
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.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer