Commodity Intraday Technical Outlook 04 2022 - Geojit Financial Services
Gold LBMA Spot
Volatile with negative bias trading is on the cards. A direct drop below $1780 is sign of major liquidation pressure.
Silver LBMA Spot
Weak bias to continue while prices stay below the support of $20.50. Further rallies expected only a break above $22.
Crude Oil NYMEX
Recovery moves are expected only a consistent trades above $114. Else choppy with negative bias trading is expected the day.
Gold KG Aug
Recovery bias expected only a break above Rs 51200. Meanwhile, consistent trades below Rs 50200 is a sign of major liquidation.
Silver KG Sep
Broad sentiment remains on the weaker side. Consistent trades above Rs 62000 is a sign of reversal.
Crude Oil Jul
Negative bias expected while prices stay below Rs 8600. Consistent trades above Rs 8800 is sign of recovery rallies.
Natural Gas Jul
Inability to move past Rs 480 expect liquidation pressure to continue the day. A direct rise above the same is a recovery sign.
Copper Jul
While prices stay below Rs 720 would continue selloffs. Else, recovery upticks are on cards.
Nickel Jul
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jul
Inability to break the resistance of Rs 290 there are potential selloffs for the day. Otherwise, it may continue rallies.
Lead Jul
While prices stay below the stiff support of Rs 178 corrective selloffs may continue the day. Major resistance is seen at Rs 186.
Aluminium Jul
Expect weak bias to continue the day as long as prices stay below Rs 214. However, consistent trades above Rs 220 is a sign of recovery.
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