Commodity Intraday Technical Outlook 16 March 2023 - Geojit Financial Services
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Gold LBMA Spot
Gold LBMA Spot Choppy trading expected initially. A direct drop below $1860 would extend corrective selling pressure.
Silver LBMA Spot
Silver LBMA Spot Recovery upticks are on the cards while prices stay above $21.40. An unexpected dip below $20 could negate the trend.
Crude Oil NYMEX
Crude Oil NYMEX Selling pressure may continue while prices stay below $70. A direct rise above $74 could negate the trend.
Gold KG Apr
Gold KG Apr Outlook remains positive as long as Rs 57500 hold downside. A direct drop below Rs 56400 is a sign of extension of corrective selling pressure.
Silver KG May
Silver KG May Upticks may continue if the support of Rs 65000 remains undisturbed. Consistent trades below the same would trigger selling pressure.
Crude Oil Mar
Crude Oil Mar Weak bias may extend while prices stay below Rs 5800. A direct rise above Rs 6080 could negate the trend.
Natural Gas
Natural Gas Mar Intraday momentum likely to be choppy again. A direct fall below Rs 200 would trigger major selling pressure.
Copper Mar
Copper Mar Consistent trades above Rs 765 is required to trigger fresh rallies. Else, expect a choppy trading session for the day.
Nickel Mar
Nickel Mar Expect choppy with thin volume trading in the near future.
Zinc Mar
Zinc Mar Choppy trading inside Rs 262-257 expected initially and breaking any of the sides would suggest fresh directions for the day.
Lead Mar
Lead Mar Prices most likely to be choppy inside Rs 183.50-180 levels and braking any of the sides would suggest fresh directional moves.
Aluminium Mar
Aluminium Mar Expect a range bound with mild negative bias. A direct drop below Rs 200 would trigger major liquidation pressure.
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