Commodity Intraday Technical Outlook 07 June 2023 - Geojit Financial Services
Gold LBMA
As long as $1920 hold downside, 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
Expect a narrow trade inside $74-70 levels and breaking any of the sides would suggest fresh direction.
Gold KG Jun
If 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
Choppy trades inside Rs 6100-5600 levels remains on the cards 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
Upticks may extend if 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
Sustained trades above Rs 210 may extend rallies for the day. Else, choppy trading is on the cards.
Lead Jun
As long as Rs 180 hold downside, expect mild upside rallies for the day. Unexpected drop below the same would trigger liquidation pressure
Aluminium Jun
If the support of Rs 204 remains hold downside, expect recovery upticks. Consistent trades below the same is sign of major liquidation.
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