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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