Commodity Intraday Technical Outlook 06 June 2023 - Geojit Financial Services
Gold LBMA
Spot Inability to move past $1920 there are chances of a recovery upticks. A direct drop of which would continue liquidation pressure.
Silver LBMA Spot
Consistent trades above $24.20 would lift prices higher. Else, choppy with corrective selling pressure is on the cards.
Crude Oil NYMEX
Break above $75 would trigger another round of bullish rallies. Otherwise, expect choppy with weak bias.
Gold KG Jun
As long as Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a signa of downside reversal.
Silver KG Jul
While prices stay above Rs 70000 recovery upticks expected. A direct dip of which would extend liquidation pressure
Crude Oil Jun
Prices remain bound trade inside Rs 6100-5600 levels initially and any of the sides breakout would trigger fresh short term direction
Natural Gas Jun
Upticks likely to continue while the support of Rs 180 remains undisturbed. A direct drop below Rs 176 is a sign of liquidation pressure.
Copper Jun
Recovery rallies may extend as long as the support of Rs 708 hold downside. Unexpected dip below it would trigger further weakness in the counter.
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
Prices remains trade in a range of Rs 210-205.50 levels and any of the sides breakout would set further directional moves.
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