Intraday Technical Outlook 08 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, expect a mild uptick for the day.
Crude Oil NYMEX
Major support is placed at $93. 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
Inability to break the support of Rs 65500 there are chances of recovery upticks. A direct drop below the same is an early weak signal.
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 465 restrict further downside. A direct drop below the same is a weak signal.
Copper Apr
Expect a choppy with mild negative bias trading initially for the day. Break above Rs 830 is early bullish signal.
Nickel Apr
Break above Rs 2600 would continue rallies. Else, expect a choppy trading with mild negative bias.
Zinc Apr
A direct break of Rs 342 would trigger bearish outlook for the day. Else, there are chances of recovery upturn.
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
Recovery momentum is on cards as long as the support of Rs 272 restrict further downside. A direct drop below the same is a weak signal.
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