Intraday Technical Outlook 12 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. Consistent trades 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
Prices remains held choppy with mild positive. However, manor upside turnaround point is seen at Rs 68000.
Crude Oil Apr
Major selling pressure is on cards if prices breaks the support of Rs 7000. Else, expect a choppy trading session for the day.
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
Corrective selloffs are likely if prices are unable to break the resistance of Rs 825. Anyhow major support is placed at Rs 788.
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 while prices stays above Rs 360. 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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