Intraday Technical Outlook 23 May 2022 - Geojit Financial Services
Gold LBMA Spot
Mild recovery can be seen as long as the support of $1848 remains undisturbed. A direct drop below the same would trigger further weakness.
Silver LBMA Spot
Bearish momentum 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
While pries stays above Rs 50600 there are potential upticks for the day. Further weakness can be seen only a consistent trade below the same.
Silver KG May
If the support of Rs 60500 hold the downside, expect recovery upticks. A direct drop below Rs 60000 is a sign of major weakness.
Crude Oil May
Expect rallies to continue while prices stay above Rs 8300. Break below Rs 7600 is a short term weak signal.
Natural Gas May
Choppy with mild positive bias expected as prices hold the support of Rs 5900. An unexpected drop below the same would trigger weakness.
Copper May
Expect a range bound trading inside Rs 780-752 levels with mild negative bias.
Nickel May
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc May
Inability to break above the resistance of Rs 324 there chances of corrective downside. Anyhow major support is seen at Rs 310.
Lead May
As long as the support of Rs 178 remains hold, expect recovery upticks for the day. A direct drop below the same is a major selling signal.
Aluminium May
Mild positive bias expected if the support of Rs 240 hold the downside. A direct fall below Rs 230 is sign of weakness.
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