Commodity Intraday Technical Outlook 19 April 2023 - Geojit Financial Services
Gold LBMA Spot
A direct break below $1980 would extend selling pressure. Else, buying momentum may continue the day.
Silver LBMA Spot
Expect a choppy trading initially but a break above $26 would trigger fresh rallies. A direct dip below $22 is a sign of downside reversal.
Crude Oil NYMEX
Inability to move past $84 choppy trading remains on the cards. Anyhow, stiff support is placed at $76.
Gold KG Jun
As long as the support of Rs 59800 hold downside, there are chances of recovery upticks. Major correction is seen only a break of Rs 59500.
Silver KG May
Consistent trades above Rs 75000 is required to extend bullish rallies. Else, choppy with negative bias trading expected the day.
Crude Oil May
If Rs 6750 remains caps upside, intraday moves mostly choppy. However, stiff resistance is paled at Rs 6910.
Natural Gas Apr
Support of Rs 178 if remain undisturbed expect recovery upticks. An unexpected drop below Rs 165 is a sign of liquidation.
Copper Apr
Rallies are expected only a break above Rs 785. Else, corrective selling pressure may extend the day as well.
Nickel Apr
Expect choppy with thin volume trading in the near future.
Zinc Apr
Expect a choppy trade inside Rs 255-250 levels and breaking any of the sides would suggest fresh directional moves.
Lead Apr
Breaking Rs 184 is needed to extend buying pressure. If not, there are chances of corrective selling for the day.
Aluminium Apr
Recovery rallies may continue while the support of Rs 210 remains undisturbed. Unexpected break below Rs 206 is a sign of liquidation pressure.
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