Commodity Intraday Technical Outlook 15 May 2023 - Geojit Financial Services
Gold LBMA Spot
A direct break below $1980 may extend weakness in the counter. Else, a mild uptick is on the cards for the day.
Silver LBMA Spot
Mild recovery upticks can be seen if the support or $23.50 hold downside. A direct drop of which would trigger further liquidation pressure.
Crude Oil NYMEX
Initial selling pressure may continue but it needs to break $68 to trigger major selling pressure. A direct lift above $72 may extend rallies.
Gold KG Jun
Further rallies are seen only a break above Rs 61500. Inability to break the same may see choppy with mild corrective selling pressure.
Silver KG Jul
Break below the immediate support of Rs 72000 may extend selling pressure. Else, intraday recovery upticks expected.
Crude Oil May
As long as prices stay below Rs 5800 may extend selling pressure. Else, recovery upticks expected the day.
Natural Gas May
While the support of Rs 178 remains hold downside, expect recovery upticks for the day.
Copper May
Choppy with mild negative bias trading is likely as long as prices stay below Rs 735.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Consistent trades below Rs 228 may extend liquidation pressure. Else, recovery upticks are on the cards.
Lead May
Recovery upticks may continue as long as the support of Rs 184 hold the downside.
Aluminium May
If the support of Rs 205 hold downside, expect recovery upticks. A direct dip below the same would trigger major liquidation pressure.
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