Intraday Technical Outlook 28 May 2021 - Geojit Financial
Gold Mini Jun/ LBMA Spot Gold
Positive outlook likely to intact as long as prices hold the support of $1875. However, immediate resistances are seen at $1925/1970 levels. A direct drop below $1845 would weaken the sentiment, but major downside reversal point is seen at $1810. MCX GoldM Jun Res: 49400 Support: 47900.
Silver Mini Jun/ LBMA Spot Silver
The $30 resistance mark continue to keep prices under pressure. However, important support of $25.60 needs to be cleared for extending the weak momentum. Else, prices continue to be volatile in near term. MCX SilverM Jun: Res at Rs 74200. Sup: 69400.
Copper Jun
Prices remain volatile with positive bias as long as it hold the support of 758. Immediate downside turnaround point is seen at 738.
Nickel Jun
Resistance is seen at 1350 which needs to be cleared for extending buying momentum. Else, there are chances of choppy trading for the day.v
Lead Jun
Break above 173 is required to continue positive momentum. Else, there are chance of selling pressure for the day.
Zinc Jun
Rallies likely to extend further if it clears the resistance of 241. Downside turnaround point is seen at 229.
Aluminium Jun
Bullish outlook may continue while prices stay above 195. Trend reversal point is placed at 185.
MCX Crude Oil May/NYMEX Crude Jun
As long as prices stay above $67 bullish rallies to continue the day which resistance is seen at $68 and $72 levels. However, consistent trades below $66 would weaken the sentiments but major downside obstacle is placed at $61.50. MCX Jun: Res at Rs 4980 / Support: Rs 4730.
Natural Gas Jun
Resistance of 222 is needed to be cleared for further rallies. Else, there are chances of corrective selling pressure for the day.
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