Commodity Intraday Technical Outlook 10 May 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy with positive bias is likely for the day. A direct dip below $1980 may trigger weakness.
Silver LBMA Spot
Pullback rallies are likely as long as $24.50 remains undisturbed. A direct dip below the same is a weak signal.
Crude Oil NYMEX
It is required to break above $74 to continue the further upticks. Inability to do so may see corrective selloffs.
Gold KG Jun
Expect a choppy outlook in the initial hours. Further rallies are seen only a break above Rs 61600. Unexpected drop below Rs 59500 is a sign of weakness.
Silver KG Jul
Bullish rallies may continue as long as the support of Rs 74200 remains undisturbed.
Crude Oil May
Choppy with mild upticks expected initially. Further selloffs are seen only a break of Rs 5400.
Natural Gas May
A direct break above Rs 190 would continue rallies. Else, mild correction is on the cards for the day
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
As long as the support of Rs 232 holds, expect recovery rallies. A direct dip below the same would trigger liquidation pressure.
Lead May
Recovery upticks may continue as long as the support of Rs 184 hold the downside.
Aluminium May
Inability to move past Rs 206 recovery rallies are on the cards. A direct drop of which would tigger liquidation pressure.
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