Intraday Technical Outlook 20 April 2022 - Geojit Financial Services
Gold LBMA Spot
Inability to move past $2000 there are chances of corrective selloffs for the day. However, major downside reversal point is placed at $1890.
Silver LBMA Spot
Prices remain choppy inside $26.50-24 levels and breaking either the sides would suggest fresh direction for the commodity.
Crude Oil NYMEX
Expect weak bias initially. However, consistent trades above $110 would lift prices further higher.
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
As long as prices stays above Rs 68000 expect choppy with mild upside bias for the day. A direct drop below Rs 65000 is a weak sign.
Crude Oil Apr
Break above Rs 8300 would lift prices further higher. Else, corrective selloffs are in cards for the day.
Natural Gas Apr
Consistent trades above Rs 600 is needed to extend bullish bias. Else, it may trade choppy with negative sentiment for the day.
Copper Apr
Expect choppy with mild negative bias trading as long as prices stay below Rs 828. Major downside support is seen at Rs 805.
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 365. A direct drop below Rs 343 is a weak sign.
Lead Apr
Prices may held with positive bias as long as the support of Rs 180 remain undisturbed.
Aluminium Apr
Inability to break the support of Rs 265 there are potential upside. A direct drop below the same is a weak sign.
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