Intraday Technical Outlook 31 May 2022 - Geojit Financial Services
Gold LBMA Spot
Mild upside 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
Inability to break the support of $21.50 upticks likely to continue the day. A direct drop below $20 would trigger major liquidation.
Crude Oil NYMEX
Bullish rallies would continue while prices stay above $105. Consistent trades below $97 is a weak signal.
Gold KG Jun
Expect a choppy with mild upside bias as long as prices stay above Rs 50600. A direct drop below the same is a weak signal.
Silver KG Jul
Inability to move past the support of Rs 60500, expect recovery upticks. A direct drop below Rs 60000 is a sign of major weakness.
Crude Oil Jun
Rallies would continue while prices stay above Rs 8300. Break below Rs 7600 is a short term weak signal.
Natural Gas Jun
Recovery upticks likely to continue while prices stay above Rs 660. Consistent trades below Rs 620 is a sign of weakness.
Copper Jun
Expect a range bound trading inside Rs 785-764 levels and breaking either the sides would suggest fresh short term directions.
Nickel Jun
Volume less trades inside Rs 1880-2400 levels likely to continue in near future.
Zinc Jun
As long as prices stay above the resistance of Rs 324 there chances of further upticks. Downside reversal point is seen at Rs 310.
Lead Jun
While prices stay above the support of Rs 178, expect recovery upticks for the day. A direct drop below the same is a major selling signal.
Aluminium Jun
Choppy with mild negative bias expected while prices stay below Rs 237. Consistent trades above Rs 241 would trigger fresh rallies.
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