Commodity Intraday Technical Outlook 21 April 2023 - Geojit Financial Services
Gold LBMA Spot
As long as prices stay above $1980 would extend buying momentum. Else, corrective selling can be seen today.
Silver LBMA Spot
Dips likely to extend while the immediate resistance of $26 caps upside. However, a direct dip below $22 is a sign of downside reversal.
Crude Oil NYMEX
If unable to move past $76 expect a slight recovery uptick. Else, weak momentum may continue the day.
Gold KG Jun
Choppy with mild corrective selloffs may see as long as Rs 61500 caps the upside. However major support is placed at Rs 59500.
Silver KG May
While prices stay above Rs 75000 may see extension of rallies. Else, choppy with negative bias trading expected the day.
Crude Oil May
It is required to sustain above Rs 6500 to trigger recovery upticks. Else, weak momentum is on the cards for the day.
Natural Gas Apr
Further selling pressure is expected only a break of Rs 176. Inability to move past the same expect recovery rallies.
Copper Apr
Choppy with corrective selloffs are likely as long as Rs 772 caps the upside.
Nickel Apr
Expect choppy with thin volume trading in the near future.
Zinc Apr
If unable to break the support of Rs 244 expect recovery upticks. A direct drop of which would trigger further liquidation pressure.
Lead Apr
Expect a congested trade inside Rs 184-180 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Apr
A direct lift above Rs 215 would extend rallies. Else, selling pressure would extend the day as well.
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