Commodity Intraday Technical Outlook 24 April 2023 - Geojit Financial Services
Gold LBMA Spot
Consistent trades above $1980 is required to extend buying momentum. Else, corrective selling can be seen today.
Silver LBMA Spot
Choppy trading expected as long as the resistance of $26 caps upside. However, a direct dip below $22 is a sign of downside reversal.
Crude Oil NYMEX
Support of $76 if remains holds, expect recovery upticks. Else, further liquidation is expected
Gold KG Jun
A direct break below Rs 59500 may extend weak bias. Inability to do so may see recovery upticks for the day.
Silver KG May
Consistent trades above Rs 76000 is needed to extend rallies. Else, choppy with corrective selling pressure is on the cards.
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
If Rs 176 remains holds, expect recovery rallies. Else, weakness likely to continue in the counter.
Copper May
Further selloffs are seen only a break of the support of Rs 755. If not, recovery upticks are on the cards.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
As long as prices stay below Rs 245 expect weakness to continue in the counter. A direct lift above Rs 252 is a sing of recovery upticks.
Lead May
Expect a congested trade inside Rs 186.5-183 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium May
Break above Rs 217 may extend rallies. Else, choppy with corrective selling pressure is on the cards.
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