01-01-1970 12:00 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 19 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

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Gold LBMA Spot

Consistent trades below $1980 may extend weakness in the counter. Else, recovery upticks are on the cards.

Silver LBMA Spot

While prices stay below $23.50 would extend weakness. Otherwise, recovery rallies are possible for the day.

Crude Oil NYMEX

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

Gold KG Jun

Break below the stiff support of Rs 59500 would extend weakness. Else, a turnaround is possible for the day.

Silver KG Jul

Break below Rs 72000 is needed to extend selling pressure. Else, intraday recovery upticks expected.

Crude Oil Jun

As long as Rs 5800 hold downside, may extend recovery rallies. Else, choppy with mild negative bias trading is likely for the day.

Natural Gas May

Expect a range bound trade inside Rs 204-190 expected initially and breaking any of the sides would suggest fresh directions.

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

Break above Rs 210 could negate the present weakness. Inability to do the same may see extension of weakness.

 

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