Intraday Technical Outlook 11 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
Recovery momentum is on cards initially. However, consistent trades below $24 is an early sign of selling pressure.
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
While prices stays above Rs 52000 there are chances of recovery momentum to continue. Trend reversal point is placed at Rs 49000.
Silver KG May
Choppy with mild positive bias expected. Immediate upside turnaround point is seen at Rs 68000.
Crude Oil Apr
While prices stays below Rs 7400 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 438 restrict further downside. A direct drop below the same is a weak signal.
Copper Apr
Congested trade inside Rs 810-835 levels expected initially. Breaking any of the sides would suggest fresh short term direction.
Nickel Apr
Prices remain range bound inside Rs 2300-2600 levels and breaking either the sides would suggest fresh short term directions.
Zinc Apr
Short term outlook remain positive but has to break Rs 360 to continue the momentum. A direct drop below Rs 343 is a weak sign.
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
Expect corrective selling as long as prices stays below the resistance of Rs 285.
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