Commodity Intraday Technical Outlook 02 May 2023 - Geojit Financial Services
Gold LBMA Spot
Expect a tight trade inside $2012-1965 levels initially and breaking any of the sides would suggest fresh directional moves.
Silver LBMA Spot
Break above the resistance of $26 would expect recovery upticks. A direct dip below $22 is a sign of downside reversal.
Crude Oil NYMEX
As long as prices stay below $76 weak sentiments remains on the cards. A direct turn above $79 would negate the trend.
Gold KG Jun
It is required to trade consistently below Rs 59500 to trigger selling pressure. Else, choppy with recovery upticks are on the cards.
Silver KG May
Regular trades above Rs 76000 is needed to extend rallies. Else, choppy with corrective selling pressure is on the cards.
Crude Oil May
A direct break of Rs 6050 would trigger selling pressure. Else, recovery upticks expected the day.
Natural Gas May
Break above Rs 192 may extend rallies. Else, choppy with corrective selling pressure is likely for the day.
Copper May
If unable to move past the support of Rs 735 expect recovery rallies. A direct drop of which would liquidate prices further.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Choppy trading with mild upside bias expected as long as the support of Rs 232 remains undisturbed.
Lead May
Further weakness is seen only a break of Rs 181. Else, recovery rallies is on the cards.
Aluminium May
As long as Rs 206 remains hold downside, there are chances of recovery upticks. A direct drop of which would extend selling pressure.
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