Commodity Intraday Technical Outlook 05 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. Else, choppy with mild negative bias trading is likely for the day.
Crude Oil NYMEX
Consistent trades above $74is needed to trigger rallies. Else, choppy with corrective selling pressure is on the cards for the day.
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
Consistent trades above Rs 72000 may extend the positive momentum. If not, corrective selling pressure expected the day.
Crude Oil Jun
As long as the support of Rs 5800 remains holds downside, expect recovery rallies for the day.
Natural Gas Jun
Inability to move past Rs 176 there are chances of recovery rallies for the day.
Copper Jun
Further liquidation is expected only a break of Rs 708. Else, recovery rallies are on the cards.
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
If Rs 181 remains holds the downside, expect recovery upticks. A direct drop below would trigger major liquidation pressure.
Aluminium Jun
Choppy trading is likely inside Rs 210-205.50 levels and any of the sides breakout would set a new short term direction.
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