01-01-1970 12:00 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 17 May 2023 - Geojit Financial Services
News By Tags | #473 #4943

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Gold LBMA Spot

Prices remains volatile initially. A direct break below $1980 may extend weakness in the counter. Else, recovery upticks are on the cards

Silver LBMA Spot

A direct break of $23.50 would extend weakness. Else, recovery rallies are possible for the day.

Crude Oil NYMEX

Expect a choppy trade with mild negative bias initially. However, a break below $68 would trigger major liquidation pressure.

Gold KG Jun

Selloffs may continue initially but stiff support is placed at Rs 60000. Major resistance is seen at Rs 61500.

Silver KG Jul

A direct dip below Rs 72000 may extend selling pressure. Else, intraday recovery upticks expected.

Crude Oil May

If unable to move past Rs 5800 may extend recovery rallies. Else, choppy with mild negative bias trading is likely for the day.

Natural Gas May

As long as prices stay above Rs 184 may extend upticks. A direct dip below Rs 178 is a sign of downside reversal.

Copper May

Weakness may extend while prices stay below Rs 722. Consistent trades above Rs 736 would trigger fresh rallies.

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

Inability to move past Rs 184 expect weakness to continue the day. Else, recovery upticks are on the cards.

Aluminium May

Expect a choppy trade inside Rs 205-204 levels and breaking any of the sides would suggest fresh directional moves.

 

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer