Commodity Intraday Technical Outlook 27 April 2023 - Geojit Financial Services
Gold LBMA Spot
Choppy with mild upticks expected initially. However, consistent fall below $1960 is an immediate sign of downside reversal.
Silver LBMA Spot
As long as the support of $24 remains hold, expect recovery rallies. Unexpected drop below the same would trigger weakness in the counter.
Crude Oil NYMEX
While prices stay below the support of $76 weak bias likely to continue the day. Further recovery rallies are seen only a break of $80.
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
Weak bias to continue while prices stay below Rs 6250. A direct rise above the same could negate the trend.
Natural Gas May
If Rs 176 remains holds, expect mild upticks in the counter. Else, weakness likely to continue in the counter.
Copper May
Consistent trades below Rs 730 would extend liquidation pressure. Else, mild recovery upticks can see today.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
While 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
Break below Rs 181 would trigger further liquidation pressure. Else, expect mild recovery upticks.
Aluminium May
Stiff support is placed at Rs 204. If it remains holds expect a turnaround in prices.
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