Commodity Intraday Technical Outlook 23 March 2023 - Geojit Financial Services
Gold LBMA Spot
Bullish outlook remains on the cards as long as prices stay above $1920.A direct drop below $1860 is a sign of weakness.
Silver LBMA Spot
Rallies would continue while prices stay above $22.50. An unexpected dip below $20 could negate the trend..
Crude Oil NYMEX
While above $70 expect recovery upticks to continue the day. Inability to do so may see choppy with corrective selling pressure.
Gold KG Apr
Intraday outlook remains positive as long as prices stay above Rs 58500. A close below Rs 57900 would trigger corrective selling pressure.
Silver KG May
As prices cleared the resistance of Rs 70000 expect rallies to continue the day. A direct dip below Rs 67500 is a weak sign.
Crude Oil Apr
While prices stay above Rs 5600 expect choppy trading to continue the day. A direct drop below Rs 5350 is a sign of weakness.
Natural Gas Mar
Inability to move past Rs 192 there are chances of corrective selling pressure would continue the day.
Copper Mar
Resistance is seen at Rs 775 which needs to be cleared for continuation of rallies. Else, corrective selling pressure is on the cards.
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
Sustained trades above Rs 184 would continue rallies. If not expect choppy with negative bias trading.
Aluminium Mar
Inability to move past Rs 200, expect recovery pullback. A direct drop of which would trigger liquidation pressure.
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