IGI Logo

Technical Commentary

Gold

Prices likely to edge higher as long as the support of $1815 remain undisturbed. A direct drop below $1750 is a weak signal.

Silver

A direct break of $25 is needed to continue rallies. Else, there are chances of corrective selling pressure.

Crude Oil

Inability to move past $84, corrective selling is likely in the counter. Anyhow, breaking $79 is required to trigger major sell offs.

Technical Commentary

Gold KG

Expect a choppy trading initially. A direct rise above Rs 48300 may take prices further highs.

Silver KG

Break below 62500 would trigger further weakness in the counter. Inability to do so, can see recovery upticks.

Crude Oil

If the Rs 6200 resistance remains caps the upside, expect corrective selloffs for the day. A direct lift above is a recovery signal.

Natural Gas

Prices remain choppy inside Rs 438-387 levels and breaking any of the sides would suggest fresh direction of the commodity.

Copper

If unable to break 731 expect a turnaround in prices. Else it may continue corrective selling.

Nickel

Buying sentiments may extend if the support of 1485 continue to hold the downside. Consistent trades below the same is a weak signal.

Zinc

A swift turnaround in prices likely as long as the support of 268 remains undisturbed.

Lead

Expect an initial choppy session but a direct break below Rs 184 would trigger fresh selloffs. Else, there are chances of recovery upticks.

Aluminium

Weakness may continue while prices stay below 210. Anyhow, major support is seen at 196.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer