Commodity Intraday Technical Outlook 16 June 2023 - Geojit Financial Services
Gold LBMA Spot
Congested trade inside $1990-1920 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
As long as $66 hold downside, expect recovery upticks. Else, it may continue liquidation pressure
Gold KG Jun
support of Rs 59200 if hold, expect mild recovery upticks. A direct dip below the same would trigger further liquidation
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
A mild upturn in prices initially expected. Further selloffs are seen only a break of Rs 5600..
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
Likely to continue buying pressure as long as the support of Rs 731 hold downside..
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
While prices stay above Rs 216 would extend recovery upticks. A direct drop below Rs 209 is a downside reversal signal
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
Expect a tight congested trade inside Rs 205-203 expected initially and breaking any of the sides would suggest fresh directional moves.
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