Commodity Intraday Technical Outlook 25 May 2023 - Geojit Financial Services
Gold LBMA Spot
A direct break of $1950 may extend liquidation pressure. Else, there are chances of recovery upticks.
Silver LBMA Spot
Weak bias likely to extend as long as prices stay below $23.50. A direct rise above $24.50 could negate the view.
Crude Oil NYMEX
Consistent trades above $74 would trigger another round of fresh rallies. Else, corrective selling pressure is likely for the day.
Gold KG Jun
Stiff support is seen at Rs 59500. A direct drop of which would liquidate prices further.
Silver KG Jul
As long as prices stay below Rs 71500 weak bias remains on the cards. Break above Rs 74000 could negate the trend
Crude Oil Jun
Rallies may continue if prices stay above Rs 6100. A direct break below Rs 5800 is sign of downside reversal.
Natural Gas May
If unable to break the support of Rs 203 there are chances of recovery uptick to continue in the counter. Else, weakness likely to see the day
Copper May
Liquidation pressure may continue while prices stay below Rs 705. A direct rise above Rs 720 is a reversal signal.
Nickel May
Expect choppy with thin volume trading in the near future
Zinc May
Prices remains on the weaker side as long as it stays below Rs 212. Trend reversal point is seen at Rs 225.
Lead May
If the support of Rs 182 remains undisturbed expect recovery rallies. Else, liquidation pressure may continue the day.
Aluminium May
If unable to break the support of Rs 205 likely for a reversal in prices. Else, it may continue selling pressure.
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