Commodity Intraday Technical Outlook 12 April 2023 - Geojit Financial Services
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Gold LBMA Spot
Upticks may continue while prices stay above $1980. A close below $1920 is a sign of downside reversal.
Silver LBMA Spot
Bullish momentum may continue as long as the support of $25 remains undisturbed. Unexpected drop below $22 is a sign of weakness.
Crude Oil NYMEX
Choppy trading expected initially but a direct rise above $82 would trigger another round of bullish rallies. A close below $79 is a sign of downside reversal.
Gold KG Jun
Inability to break the support of Rs 60000 bullish momentum may continue the day. If not expect corrective selling pressure.
Silver KG May
As long as prices stay above Rs 75000 it may take prices to new highs. A direct drop below Rs 71000 is a sign of reversal.
Crude Oil Apr
Prices needs to break above Rs 6700 to continue rallies. Else, expect a choppy trading session for the day.
Natural Gas Apr
Further selloffs are seen only a break of Rs 175. Else, recovery upticks are on the cards for the day.
Copper Apr
Choppy trading inside Rs 758-785 levels remains on the cards and breaking any of the sides would suggest fresh directional moves.
Nickel Apr
Expect choppy with thin volume trading in the near future.
Zinc Apr
Break below Rs 245 would trigger further selling pressure. Else, a sharp recovery upticks can be seen today.
Lead Apr
Expect a tight trade inside Rs 180-184 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Apr
Consistent trades below Rs 204 would extend selling pressure. Else, a mild recovery upticks are on the cards for the day.
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