Commodity Intraday Technical Outlook 10 April 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy with mild corrective bias expected initially. However, consistent trades above $2000 would trigger fresh rallies. Major liquidation is seen only a break of $1920.
Silver LBMA Spot
Break above $25 would continue the buying momentum. Unexpected drop below $22 is a sign of weakness.
Crude Oil NYMEX
A direct rise above $82 is needed to extend rallies. Inability to do so may see corrective selling pressure.
Gold KG Jun
Expect mild correction as long as prices are unable to move past Rs 61000. Anyhow major support is placed at Rs 59000.
Silver KG May
Consistent trades above the resistance of Rs 75000 may take prices to new highs. A direct drop below Rs 71000 is a sign of reversal.
Crude Oil Apr
Break above Rs 6700 is needed to extend rallies. Else, expect a choppy trading session for the day.
Natural Gas Apr
Selloffs would continue as long as Rs 184 caps the upside. A direct rise above the same could negate the view.
Copper Apr
Expect a range bound trading initially. A direct break above Rs 780 is needed to trigger fresh rallies.
Nickel Apr
Expect choppy with thin volume trading in the near future.
Zinc Apr
While prices stay below Rs 252 weak bias is on the cards. Unexpected turn above the same would trigger rallies.
Lead Apr
Prices remains choppy inside Rs 180-184 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Apr
If unable to move past the support of Rs 204 there are chances of recovery upticks. A direct dip below Rs 202 is a weak sign.
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