01-01-1970 12:00 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 18 May 2023 - Geojit Financial Services
News By Tags | #473 #4943

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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.

 

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