Commodity Intraday Technical Outlook 19 June 2023 - Geojit Financial Services
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Gold LBMA Spot
Congested trade inside $1990-1920 would continue initially and breaking any of the sides would trigger fresh directional moves.
Silver LBMA Spot
Mild upticks expect initially. However, break above $24.50 is needed to strengthen the momentum.
Crude Oil NYMEX
Consistent trades above $72 may extend recovery upticks. Else, choppy trading expected the day.
Gold KG Jun
support of Rs 59200 if remain hold, expect mild recovery upticks. A direct dip below the same would trigger further liquidation.
Silver KG Jul
It is required to stay above Rs 74000 to trigger further major rallies. Inability to do so may see corrective selloffs for the day.
Crude Oil Jun
Break above Rs 5900 would continue rallies. Else, choppy with mild correction is on the cards for the day.
Natural Gas Jun
Further rallies are seen only above Rs 218. If unable to break it may see selling pressure for the day.
Copper Jun
Stiff resistance is seen at Rs 738 which needs to be cleared for further rallies.
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
While prices stay above Rs 216 would extend recovery upticks. A direct drop below Rs 209 is a downside reversal signal.
Lead Jun
Prices most likely trade inside Rs 181-183.50 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Jun
Prices remain stuck inside Rs 205-203 levels and breaking any of the sides would suggest fresh directional moves.
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