Intraday Technical Outlook 30 March 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks can be seen initially. However major resistance is seen at $1965. Further liquidation pressure is anticipated only a close below $1890.
Silver LBMA Spot
Choppy trades remain on cards. A direct drop below $24 is an early sign of selling pressure. Else, a mild uptick is possible for the day.
Crude Oil NYMEX
Choppy with mild negative bias remains on cards. However, a direct drop below $102 is a sign of renewed selling pressure. Major resistance is seen at $116.
Gold KG Apr
While prices stays below the support of Rs 51000 expect weak bias to continue the day. Further rallies are seen only above Rs 51800.
Silver KG May
Choppy with mild negative bias expected. Immediate upside turnaround point is seen at Rs 68000.
Crude Oil Apr
Choppy with recovery upticks are on cards initially. However, a direct drop below Rs 8000 is a sign of major selling pressure.
Natural Gas Apr
While prices stays below Rs 408 there are chances of corrective selloffs. A direct rise above Rs 420 is a fresh buying signal.
Copper Apr
Expect a choppy trading inside Rs 810-835 is likely for the day. However, breaking any of the sides would suggest fresh short term direction.
Nickel Apr
Chances of a turn around in prices as long as the support of Rs 2000 hold downside. Unexpected drop below the same weakness would continue.
Zinc Apr
A direct fall below Rs 328 is a weak signal. Else, choppy trading is on cards
Lead Apr
Consistent trades below Rs 180 would trigger further liquidation. Else, there are chances of recovery upticks for the day.
Aluminium Apr
While prices stays below Rs 285 would extend selling pressure. Recovery moves are seen only above Rs 292.
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