Intraday Technical Outlook 05 May 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks are on cards as long as the support of $1875 remain undisturbed. A direct drop below $1875 would continue liquidation pressure.
Silver LBMA Spot
An upside turnround in prices are possible as long as the support of $22 remain undisturbed. However intraday resistance is seen at $23.50.
Crude Oil NYMEX
Prices needs to break $108 to continue rallies. Else, there are chances of choppy with negative bias trading for the day.
Gold KG Jun
Choppy with mild positive bias expected initially. However, a direct drop below Rs 50600 would trigger sharp selling pressure.
Silver KG May
A swift upturn in prices are likely for the day. However, consistent trades below Rs 62000 would continue selling pressure.
Crude Oil May
Rs 8250 may act as an immediate resistance which needs to be cleared for continuation of rallies. Immediate downside reversal point is seen at Rs 7400.
Natural Gas May
Bullish outlook remains on cards if prices hold the support of Rs 630. Direct drop below Rs 595 is a corrective selling signal.
Copper May
Expect choppy with recovery upticks if Rs 752 hold the downside. However major resistance is seen at Rs 812.
Nickel May
Prices remain range bound inside Rs 2300-2600 levels and breaking either the sides would suggest fresh short term directions.
Zinc May
If the support of Rs 320 restrict further downside, expect recovery moves for the day. A close below the same is a weak signal.
Lead May
A direct rise above Rs 186 would take prices higher. Else, weak bias to continue the day.
Aluminium May
As long as prices stay below Rs 255 weak bias to continue the day. A direct rise above Rs 260 is a positive sign.
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