Intraday Technical Outlook 12 May 2022 - Geojit Financial Services
Gold LBMA Spot
Choppy with mild recovery upticks are on cards initially. It needs to sustain above $1870 to continue rallies.
Silver LBMA Spot
Bearish momentum may continue while prices stay below $23. Recovery moves are anticipated only consistent trades above $23.50.
Crude Oil NYMEX
Choppy trading remains on cards. It needs to break either sides of $107-93 to set a short term directional move.
Gold KG Jun
A direct break of Rs 50300 would extend weakness. Else, recovery upticks are on cards for the day.
Silver KG May
Major support is seen at Rs 60000. Consistent trades below the same would extend weakness. Else, expect a choppy trading for the day.
Crude Oil May
Consistent trades above Rs 8100 it may continue rallies. Else, expect mild negative bias trading for the day.
Natural Gas May
Inability to move past Rs 596 there are potential selling pressure. A direct rise above the same would extend rallies.
Copper May
Expect choppy with mild negative bias trading as long as prices stay below Rs 762. 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
Weak bias to continue while as prices cleared the stiff support of Rs 320.
Lead May
Mild positive bias likely as long as the support of Rs 183 holds the downside. A direct drop below Rs 180 is an early sign of liquidation pressure.
Aluminium May
It required to break Rs 230 to extend weakness. Else, there are chances of recovery upticks for the day.
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