Intraday Technical Outlook 20 May 2022 - Geojit Financial Services
Gold LBMA Spot
Weak bias to continue while prices stay below the support of $1849. A direct turn above $1890 is recovery signal.
Silver LBMA Spot
Choppy with negative outlook may continue while prices stay below $23. Recovery moves are anticipated only consistent trades above $23.50.
Crude Oil NYMEX
While prices stay above $105 it may continue with mild positive bias. A direct drop below $97 is a weak signal.
Gold KG Jun
As long as prices stay below the support of Rs 50600 would extend weakness. Major upside turnaround point is seen at Rs 51000.
Silver KG Jun
Inability to move past the immediate support of Rs 60400 there are chances of recovery upticks for the day. A direct drop below Rs 60000 would extend weakens.
Crude Oil Jun
Expect rallies to continue while prices stay above Rs 8000. Break below Rs 7400 is a short term weak signal.
Natural Gas May
Choppy trading remain on cards. A direct rise above Rs 700 is needed to extend major rallies.
Copper May
While prices stay above Rs 762 there are more potential upside. Consistent trades below Rs 742 is a weak signal.
Nickel May
Prices remain range bound inside Rs 2300-2600 levels and breaking either the sides would suggest fresh short term directions.
Zinc May
Prices likely to be congested inside Rs 324-308 levels and breaking either sides would suggest fresh directional moves.
Lead May
If unable to move past Rs 178 expect recovery upticks for the day. A direct drop below the same is a major selling signal.
Aluminium May
Upticks likely to continue as long as the stiff support of Rs 238 remain undisturbed. Consistent trades below Rs 230 is a major bearish signal.
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