Commodity Intraday Technical Outlook 20 March 2023 - Geojit Financial Services
Gold LBMA Spot
Initial dips expected but it may find support near $1960 and turn higher later. A direct drop below $1860 is a sign of weakness.
LBMA Spot
Upticks likely to continue while prices stay above $21.40. An unexpected dip below $20 could negate the trend.
Crude Oil NYMEX
Break below $65 is needed to trigger further selling pressure. Else, recovery upticks are on the cards for the day.
Gold KG Apr
Bullish outlook would continue while prices stay above Rs 58500. A close below Rs 57900 would trigger corrective selling pressure.
Silver KG May
While prices stay above Rs 68000 would extend buying pressure. A direct drop below Rs 66000 could negate the trend.
Crude Oil Mar
Weak bias may extend while prices stay below Rs 5600. A direct rise above Rs 6080 could negate the trend.
Natural Gas Mar
Weak bias remains on the cards as long as prices stay below Rs 200. A direct rise above 216 would trigger recovery rallies.
Copper Mar
Further selloffs are seen only a break below Rs 740. If unable to break the support may see extension of rallies.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
Inability to break Rs 252 there are chances of recovery upticks for the day. Unexpected drop of which is a sign of liquidation.
Lead Mar
Choppy trading expected initially. Breaking any of the sides of the congested levels of Rs 183.50-180 would suggest fresh directional moves.
Aluminium Mar
Further selloffs are seen only a break of Rs 200. Else, expect a mild recovery uptick for the day.
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