Intraday Technical Outlook 14 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
If unable to break $1900 intraday bias likely to be on the weaker side with stiff support is seen at $ 1855. A direct drop below $1855 is an early sign of major weakness. Further rallies are seen only a close above $1915. MCX GoldM Jul Res: 49200 Support: 47350.
Silver Mini Jun/ LBMA Spot Silver
Inability to cross the immediate upside obstacle of $28.50, there are chances of selling pressure to continue towards $26.80 initially. A direct break of which the momentum may extend for near future. Rallies above $30 would call for sharp recovery pullbacks later. Silver Mini Jun: Res at Rs 72800. Sup: 69200.
Copper Jun
Recovery upticks are likely as long as prices stay above 745. Trend reversal point is placed at 735.
Nickel Jun
A mild positive bias is likely but breaking the resistance of 1350 is needed to extend the momentum. A direct drop below 1289 is a short term bearish sign.
Lead Jun
Intraday momentum continue to be choppy inside 174-168 levels initially and breaking either the sides would suggest fresh direction to the commodity.
Zinc Jun
Braking the resistance of 243 is required to continue bullish momentum. Else, there are changes of choppy with mild negative momentum.
Aluminium Jun
Buying momentum may continue as long as 192 hold the downside. Further weakness is seen only a c close below 188.
MCX Crude Oil May/NYMEX Crude Jun
While prices stay above $71, bullish outlook continue towards the next resistances of $72 initially followed by $78. Meanwhile, break of $68 could weaken intraday bullish bias and take prices lower. MCX Jun: Res at Rs 5270 / Support: Rs 4940.
Natural Gas Jun
Break above 243 is needed to extend the buying momentum for the day. Else, there are chances of corrective selling.
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