Intraday Technical Outlook 22 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
If the support of $1754 remain undisturbed, expect a slight recovery uptick in prices for the day. Anyhow major rallies are seen only a close above $1855. A direct drop below $1754 would trigger further liquidation pressure in the counter. MCX GoldM Jul Res: 47800 Support: 46100.
Silver Mini Jun/ LBMA Spot Silver
A direct break below the stiff support of $25.50 is needed to continue liquidation pressure. Else, there are chances of choppy trading for the day. Anyhow, immediate upside turnaround point is seen at $28.50. Silver Mini Jun: Res at Rs 70400. Sup: 66200.
Copper Jun
Choppy with negative bias may continue as long as 720 caps the upside. Anyhow major support is placed at 688.
Nickel Jun
Expect a slight recovery in prices as long as 1280 hold the downside. Anyhow, a direct break of $1260 is required to trigger further selling pressure.
Lead Jun
Upticks are likely as long as 168 hold the downside. Major resistance is seen at 173.50, break of which is a short term bullish signal.
Zinc Jun
Further weakness is seen only a close below 228. Else, there are chances of recovery upticks.
Aluminium Jun
As long as the support of 188 remain undisturbed, there are chances of recovery upticks for the day. A direct drop below the same is a sign of further sharp liquidation pressure.
MCX Crude Oil May/NYMEX Crude July
Outlook continue to stay positive while prices stay above $73. Next upside hurdles are seen at $77 followed by $82 levels. Consistent trades below $69.50 is a sign of weakness. MCX Jun: Res at Rs 5640 / Support: Rs 5220.
Natural Gas Jun
A direct break above 241 is needed to continue rallies. Else, there are chances of corrective selling pressure.
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