Intraday Technical Outlook 09 May 2022 - Geojit Financial Services
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Gold LBMA Spot
Expect a choppy trading with mild recovery upticks as long as the support of $1848 remain undisturbed. A direct drop below $1840 would continue liquidation pressure.
Silver LBMA Spot
While prices stay below $23 there are potential downside for the day. A direct rise above $23.80 is an early recovery signal.
Crude Oil NYMEX
If unable to break the resistance of $111 expect corrective selloffs for the day. Anyhow major support is seen at $99.
Gold KG Jun
Choppy with mild negative bias expected initially. However, a direct drop below Rs 50600 would trigger sharp selling pressure.
Silver KG May
While prices stay below Rs 65000 liquidation pressure would continue the day. A direct rise above Rs 67000 could negate the intraday bearish view.
Crude Oil May
Further rallies are seen only above Rs 8500. Else, expect mild negative bias trading for the day.
Natural Gas May
Though broad trend remains choppy, expect a corrective selloffs initially. Meanwhile, major liquidation is seen only a cross below Rs 595.
Copper May
Expect choppy with mild negative bias trading as long as prices stay below Rs 775. Upside turnaround point is placed at Rs 798.
Nickel May
Prices remain range bound inside Rs 2300-2600 levels and breaking either the sides would suggest fresh short term directions.
Zinc May
Recovery upticks likely to see today as long as the support of Rs 320 remain undisturbed.
Lead May
If unable to move past Rs 180 expect recovery upticks for the day. A direct drop below the same wis major selling signal.
Aluminium May
If prices unable to hold the support of Rs 237 expect weak bias to continue the day. Else, recovery upticks are in cards for the day.
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