Intraday Technical Outlook 24 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
Expect choppy with recovery bias trading 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: 47600 Support: 46400.
Silver Mini Jun/ LBMA Spot Silver
There are chances of recovery upticks if prices continue to hold the stiff support of $25.50. A direct drop below the same is a short term liquidation signal. Anyhow, immediate upside turnaround point is seen at $28.50. Silver Mini Jun: Res at Rs 70400. Sup: 66200.
Copper Jul
Prices remain choppy with negative while it stays below 730. Further major liquidation is seen only a break of 692.
Nickel Jul
Recovery upticks may continue as long as 1316 hold the downside. Anyhow, a direct break of $1278 is required to trigger further selling pressure.
Lead Jul
Upticks are likely as long as 168 hold the downside. Major resistance is seen at 174.30, break of which is a short term bullish signal.
Zinc Jul
Recovery rallies are likely if prices are unable to break the support of 228. Major upside obstacle is seen at 243.
Aluminium Jul
Inability to break the support of 190 there are chances of recovery rallies. An unexpected drop below the same is a sign of further weakness.
MCX Crude Oil May/NYMEX Crude July
Choppy with positive bias trading is likely while prices stay above $72.50. Anyhow, next major 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 5540 / 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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