Commodity Intraday Technical Outlook 08 May 2023 - Geojit Financial Services
Gold LBMA Spot
Choppy with positive bias is likely for the day. A direct dip below $1980 may trigger weakness.
Silver LBMA Spot
A direct break above $26 would extend rallies. Else, there are chances of a choppy trading for the day.
Crude Oil NYMEX
Break above $72 may extend upticks. Inability to do so may see corrective selling pressure.
Gold KG Jun
Outlook remains on the positive side while prices stay above Rs 61000. Unexpected drop below Rs 59500 is a sign of weakness.
Silver KG Jul
Range bound trading with mild positive bias is on the cards as long as the support of Rs 74200 remains undisturbed.
Crude Oil May
Further selloffs are seen only a break of Rs 5400. if it holds, choppy with mild recovery upticks are on the cards.
Natural Gas May
Pullback rallies may be seen as long the support of Rs 174 hold downside. A direct dip below the same is a weak sign.
Copper May
If it hold the support of Rs 735 would mild upticks. Else, weak bias may continue the day.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Upticks likely to continue while the support of Rs 235 remains hold downside. A direct dip below Rs Rs 230 is a weak signal.
Lead May
Further weakness is seen only a break of Rs 181. Else, recovery rallies is on the cards.
Aluminium May
If the support of Rs 206 hold downside expect mild pullbacks. Else, weak bias is likely for the day.
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