Intraday Technical Outlook 09 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
Prices continue to be volatile with mild negative bias as long as it stays below the support of $1880. Anyhow, major weakness is seen only a close below $1845. Further recovery rallies are triggered only a direct break of $1915. MCX GoldM Jul Res: 49080 Support: 48020.
Silver Mini Jun/ LBMA Spot Silver
Consistent trades below the $30 upside obstacle, intraday trend likely to be mild negative but breaking the downside obstacle of $26.80 is needed to extend the momentum. Anyhow a break above $28.30 there are chances of intraday recovery pullbacks. Silver Mini Jun: Res at Rs 72800. Sup: 68200.
Copper Jun
There are chances of recovery upticks as long as 730 hold the downside. A direct drop below the same would trigger another round of liquidation.
Nickel Jun
Breaking the resistance of 1350 is needed to extend buying momentum. Otherwise prices may continue with volatile bias.
Lead Jun
Range bound with mild selling bias is likely, possibly inside 174-168 levels for the day.
Zinc Jun
While prices stay below 243 expect a choppy trading session for the day. Major downside reversal point is seen at 229.
Aluminium Jun
Weak bias likely to extend as long as 194 caps the upside. A direct rise above 198 would trigger further bull waves in the counter.
MCX Crude Oil May/NYMEX Crude Jun
Positive bias may extend as long as prices stays above $67. Next resistances are seen at $72 then $78 levels. A direct break of $65 could negate the outlook and correct prices lower. Anyhow, major downside turnaround point is at $61. MCX Jun: Res at Rs 5142 / Support: Rs 4880.
Natural Gas Jun
Inability to move past 222 there are chances of recovery upticks for the day. A direct drop below 219 is sign of reversal.
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