Commodity Intraday Technical Outlook 18 May 2023 - Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Gold LBMA Spot
As long as the support of $1970 remains hold downside, expect recovery upticks. Else, it may continue corrective selling pressure
Silver LBMA Spot
Choppy trading expected initially. However, a direct break of $23.50 would extend weakness
Crude Oil NYMEX
Prices remains congested inside $74-68 levels initially and breaking any of the sides would suggest fresh directional moves.
Gold KG Jun
Mild negative bias expected initially, but there is a stiff support is placed at Rs 60000. Major resistance is seen at Rs 61500.
Silver KG Jul
Stiff support is at Rs 72000 which needs to be cleared for extending the bearish moves. Else, intraday recovery upticks expected.
Crude Oil May
Break above the immediate resistance of Rs 6060 would extend rallies. Else, choppy with weak bias expected the day
Natural Gas May
While prices stay above Rs 184 may extend upticks. A direct dip below Rs 178 is a sign of downside reversal
Copper May
A mild turnaround in prices can be seen if it unable to break the support of Rs 710. Anyhow major upside obstacle is placed at 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
Break below Rs 182 may continue selling pressure. Else, recovery moves expected the day.
Aluminium May
While prices stay above Rs 205 recovery upticks would continue. A direct dip below Rs 203 is a selling signal.
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
