Intraday Technical Outlook 23 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
A mild recovery uptick is in cards as long as prices stay above $1754. However, 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: 46400.
Silver Mini Jun/ LBMA Spot Silver
Breaking the stiff support of $25.50 is needed to continue liquidation pressure. Else, there are chances of choppy trading with chances of recovery upticks 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
Recovery upticks may continue 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, recovery upticks may continue for the day. A direct drop below the same is a sign of further sharp liquidation pressure.
MCX Crude Oil May/NYMEX Crude July
Intraday outlook remains on the positive side 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 near term weakness. MCX Jun: Res at Rs 5640 / Support: Rs 5220.
Natural Gas Jun
Recovery upticks may continue as long as prices stay above 241. Further weakness is seen only a close below 230.
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