Intraday Technical Outlook 27 April 2021 - Geojit Financial
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Gold Mini Jun/ LBMA Spot Gold
Breaking the immediate resistance of $1800 is needed to continue positive outlook in the counter. Else there are chances of corrective selling pressure but stiff support is placed at $1760. At the same time, an unexpected drop below $1725 is a bearish signal. MCX GoldM May Res: 48480 Support: 47150.b
Silver Mini Jun/ LBMA Spot Silver
Prices needs to sustain above $26.70 to extend the buying momentum towards $28 or more. Inability to do so, there are chances of corrective selling, but major downside reversal point is placed at $23.80. MCX SilverM Jun: Res at Rs 72200. Sup: 67450.
Copper May
Bullish rallies would continue as long as 745 hold the downside. An unexpected drop below the same would trigger corrective selling.
Nickel May
Recovery upticks may continue if the support of 1208 remain undisturbed. However, a direct drop below the same is a signal of reversal.
Lead May
Expect rallies to continue towards 173 or more if it convincingly break the immediate obstacle of 174. Downside reversal point is placed at 166.
Zinc May
As long as prices stay above 232 it may continue bullish rallies in the counter. A direct drop below 226 is a signal of reversal.
Aluminium May
Bullish rallies to continue as long as 190 hold the downside. Weakness is seen only a close below 186.
MCX Crude Oil May/NYMEX Crude May
Intraday trend remains choppy inside $60.50- 64 levels initially, and breaking any of the sides would suggest directional moves. Anyhow, a direct break below $57 is major downside reversal point. MCX May: Res at Rs 4820 / Support: Rs 4540.
Natural Gas Apr
A direct surge above 209 would trigger major rallies in the counter towards 214 or even more. Immediate reversal point is seen at 202.
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