06-02-2023 10:42 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 02 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

Consistent trades above $24.20 would lift prices higher. A direct break below $22.40 would continue weakness.

Crude Oil NYMEX

Choppy trades inside $71-67 levels expected initially and breaking any of the sides would suggest fresh directional moves.

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

Expect a range bound trade inside Rs 6100-5600 levels initially and any of the sides breakout would trigger fresh short term direction.

Natural Gas Jun

Liquidation pressure may continue while prices stay below Rs 185.

Copper Jun

If the support of Rs 708 hold downside expect recovery upticks for the day.

Nickel Jun

Expect choppy with thin volume trading in the near future.

Zinc Jun

If unable to move past Rs 210 there are chances of selling pressure to continue the day.

Lead Jun

Support of Rs 181 remains holds downside expect recovery upticks. A direct drop below would trigger major liquidation pressure.

Aluminium Jun

Expect a choppy trade inside Rs 210-205.50 levels and any of the sides breakout would set a new short term direction.

 

 

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