Intraday Technical Outlook 28 June 2021 - Geojit Financial
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Gold Mini Jul/ LBMA Spot Gold
Weakness to extend the day as long as $1800 remains caps the upside. Anyhow, a direct drop below $1754 would be a sign of short term bearish outlook in the counter. An unexpected rise above $1800 may see recovery upticks. MCX GoldM Jul Res: 47600 Support: 46400.
Silver Mini Jun/ LBMA Spot Silver
Intraday sentiment continue to trade in a tight range of $26.40-25.40 levels initially and breaking either the side would suggest fresh direction to the commodity. 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
Prices continue to stay positive while the support of $1348 remain undisturbed. A direct drop below 1320 is a sign of major liquidation.
Lead Jul
Choppy with recovery upticks are likely as long as 168 hold the downside. Next major resistance is seen at 174.30.
Zinc Jul
If the resistance of 238 remain caps, expect corrective selloffs to continue the day. Further major rallies are seen only above 243.
Aluminium Jul
Inability to break the support of 190 there are chances of recovery rallies for the day. An unexpected drop below the same is a sign of further weakness.
MCX Crude Oil May/NYMEX Crude July
Intraday momentum to take prices further higher as long as it stays 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 Jul: Res at Rs 5580 / Support: Rs 5270.
Natural Gas Jul
Positive sentiment to extend further while the support of 248 remain hold the downside. Downside turnaround point is seen at 233.
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