Commodity Intraday Technical Outlook 14 June 2023 - Geojit Financial Services
Gold LBMA Spot
Congested trade inside $1990-1930 would continue initially and breaking any of the sides would trigger fresh directional moves.
Silver LBMA Spot
Recovery upticks expect initially. However, break above $24.50 is needed to extend the momentum
Crude Oil NYMEX
If unable to move past $66 a turn around in prices expected. However a direct break of which extend liquidation pressure.
Gold KG Jun
Stiff support is placed at Rs 59200 which if broken would continue liquidation pressure. Else, mild recovery is possible the day.
Silver KG Jul
Inability to move past Rs 74000 there are chances of corrective selling pressure. Consistent trades above the same would lift prices higher.
Crude Oil Jun
Further selloffs are seen only a break of Rs 5600. Else, recovery upticks anticipated the day.
Natural Gas Jun
As long as the support of $188 remain undisturbed, expect mild recovery up moves. A direct drop of which would call for liquidation pressure.
Copper Jun
Stiff resistance of Rs 731 needs to be cleared for extending rallies. Inability to do so may call for liquidation pressure.
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
If unable to trade above Rs 216 weak bias expected the day. A direct rise above could negate the weak outlook.
Lead Jun
Prices most likely trade inside Rs 181-183.50 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Jun
It is required to trade constantly above Rs 205 to extend rallies. Else, choppy with negative bias remains on the cards for the day.
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