Intraday Technical Outlook 05 April 2022 - Geojit Financial Services
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Gold LBMA Spot
Recovery upticks can be seen initially. However major resistance is seen at $1965. Further liquidation pressure is anticipated only a close below $1890.
Silver LBMA Spot
Choppy trades remain on cards. A direct drop below $24 is an early sign of selling pressure. Else, a mild uptick is possible for the day
Crude Oil NYMEX
Recovery upticks can be seen initially. However it needs to break above $108 to trigger major rallies. Major support is seen at $95.
Gold KG Apr
Prices most likely congested inside Rs 50300-52000 levels and breaking either the sides would suggest fresh short term direction
Silver KG May
Choppy with mild negative bias expected. Immediate upside turnaround point is seen at Rs 68000.
Crude Oil Apr
Expect recovery upticks bias to continue the day. Consistent trades above Rs 7400 is a sign of weakness
Natural Gas Apr
Outlook continue to be choppy with mild positive. A direct drop below Rs 415 would negate the view and take prices lower.
Copper Apr
Expect a choppy trading inside Rs 810-835 is likely for the day. However, breaking any of the sides would suggest fresh short term direction.
Nickel Apr
Chances of a upside turn around in prices as long as the support of Rs 2000 hold downside. Unexpected drop below the same weakness would continue
Zinc Apr
Corrective selloffs are likely as long as Rs 360 caps the upside. may continue the day. A direct drop below Rs 339 is a major weak signal.
Lead Apr
Consistent trades below Rs 180 would trigger further liquidation. Else, there are chances of recovery upticks for the day.
Aluminium Apr
While prices stays below Rs 285 would extend selling pressure. Recovery moves are seen only above Rs 292.
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