Commodity Intraday Technical Outlook 05 May 2023 - Geojit Financial Services
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Gold LBMA Spot
Likely to continue the bullish outlook as long as prices stay above $2040. A direct drop below $1965 may negate the trend.
Silver LBMA Spot
While prices stay above $26 would extend rallies. Else, there are chances of a choppy trading for the day.
Crude Oil NYMEX
Recovery upticks are on the cards initially. Further selling pressure expected only a break of $64.
Gold KG Jun
Bullish outlook may extend while prices stay above Rs 61000. Unexpected drop below Rs 59500 is a sign of weakness.
Silver KG Jul
Intraday outlook remain bullish as long as the support of Rs 74200 undisturbed. A direct dip below the same would trigger selling pressure.
Crude Oil May
Choppy with mild pullback expected initially. If prices sustain above Rs 5700 it may extend the momentum.
Natural Gas May
Weak bias expected initially but a break above Rs 184 would trigger fresh rallies. A direct dip below Rs 172 is a weak signal.
Copper May
If it hold the support of Rs 735 would see extension of upticks. Else, weak bias may continue the day.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Choppy trade inside Rs 238-232 levels and breaking any of the sides would suggest fresh directional moves.
Lead May
Further weakness is seen only a break of Rs 181. Else, recovery rallies is on the cards.
Aluminium May
While below Rs 208 expect weakness to continue the day. A direct rise above Rs 210 would see pullback rallies.
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