Intraday Technical Outlook 07 April 2022 - Geojit Financial Services
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Gold LBMA Spot
Steady with positive bias expected as long as the support of $1900 hold the downside. Major resistance is seen at $1965 while further liquidation pressure is seen only a close below $1890.
Silver LBMA Spot
Choppy trades remain on cards. Consistent trades below $24 is an early sign of selling pressure. Else, a mild uptick is possible for the day.
Crude Oil NYMEX
Major support is placed at $97. A direct drop below the same would correct prices further. Else, there are chances of recovery upticks.
Gold KG Jun
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
While prices stays below Rs 7300 there are chances of extension of selling pressure. Otherwise recovery upturn are in cards.
Natural Gas Apr
Outlook continue to be positive as long as the support of Rs 415 restrict further downside. A direct drop below the same is a weak signal.
Copper Apr
Expect a choppy trading inside Rs 810-835 is likely for the day. 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
A congested trade inside Rs 360-350 levels are initially expected. Breaking any of the sides would suggest further short term direction.
Lead Apr
A direct drop below Rs 180 further liquidation pressure is in cards. Else, range bound with mild positive bias expected the day.
Aluminium Apr
Inability to break the support of Rs 278 there are chances of recovery upticks. Else, it may trade with choppy bias for the day.
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