Commodity Intraday Technical Outlook 21 March 2023 - Geojit Financial Services
Gold LBMA Spot
If unable to move past $1960 expect to continue the bullish waves. A direct drop below $1860 is a sign of weakness.
LBMA Spot
Rallies likely to continue while prices stay above $22.50. An unexpected dip below $20 could negate the trend.
Crude Oil NYMEX
Inability to break above $70 the bearish momentum would continue the day. However, there are stif support is placed at $64.
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
As long as 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
Recovery upticks can be seen as long as the support of Rs 746 hold the downside. An unexpected drop of which would trigger liquidation pressure.
Nickel Mar
Expect choppy with thin volume trading in the near future.
Zinc Mar
Further selloffs are seen only a break of Rs 252. Inability to cross the same may see recovery upticks for the day.
Lead Mar
Breaking any of the sides of the congested levels of Rs 183.50-180 would suggest fresh directional moves for the day
Aluminium Mar
If unable to break the support of Rs 200 expect recovery pullback. A direct drop of which would trigger liquidation pressure.
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