Intraday Technical Outlook 24 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. An unexpected break below the same would see further weakness
Silver KG May
If the support of Rs 60500 hold the downside, expect choppy with recovery momentum. 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
Positive bias would continue while the support of Rs 610 remains undisturbed.
Copper May
If the support of Rs 760 holds the downside, expect rallies to continue the day. Downside turnaround point is seen at Rs 752.
Nickel May
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc May
While prices stays above the resistance of Rs 324 there chances of continuation of upside. 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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