Commodity Intraday Technical Outlook 21 June 2023 - Geojit Financial Services
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Gold LBMA Spot
Gold LBMA Spot Support of $1920 if holds expect recovery upticks. A direct drop of which would trigger further liquidation pressure.
Silver LBMA Spot
Silver LBMA Spot While prices stay below $23.50 weak bias likely to continue the day. Major upside turnaround point is seen at $24.
Crude Oil NYMEX
Crude Oil NYMEX Sustained trades above $72 would lift prices further highs. Else, it may see corrective selling pressure for the day.
Gold KG Jun
Stiff support is placed at Rs 58500 which if breaks expect further correction in prices. Else, turn around in prices are possible the day.
Silver KG Jul
Silver KG Jul Weak bias to extend initially, but consistent trades below Rs 69500 would trigger major liquidation pressure.
Crude Oil Jul
Crude Oil Jul Mild upticks expected as long as the support of Rs 5800 hold downside. A direct drop of which would extend selling pressure.
Natural Gas Jun
Natural Gas Jun Prices remains choppy inside Rs 202-210 levels and breaking any of the sides would set fresh short term directions.
Copper Jun
Copper Jun Expect a choppy trades inside Rs 725-734 levels initially and breaking any of the sides would set fresh directional moves.
Nickel Jun
Nickel Jun Expect choppy with thin volume trading in the near future.
Zinc Jun
Zinc Jun If unable to move past Rs 212 a mild recovery upticks expected. Else, further correction in prices are on the cards.
Lead Jun
Lead Jun As long as prices stay above Rs 183.50 buying pressure would continue the day. Downside reversal point is placed at Rs 181.
Aluminium Jun
Aluminium Jun Break below the stiff support of Rs 201.50 would correct prices further lower. Else, recovery rallies are expected.
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