Commodity Intraday Technical Outlook 04 June 2024 - Geojit Financial Services Ltd
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Gold LBMA
Spot Price remain choppy initially and if it clears $2310 would drag prices lower.
Silver LBMA
Spot Consistent trades below $30 would liquidate prices further. Else, recovery upticks are on cards.
Crude Oil NYMEX
Weak bias may continue as long as prices stay below $75.
Gold KG
Jun Further rallies expected only above Rs 72400. Inability to break it would see choppy with corrective selling.
Silver KG
Jul It is required to sustain above Rs 96500 to extend rallies. If not may see weakness for the day.
Crude Oil
Jun Weak bias likely to extend the day. Further rallies are seen only above Rs 6500.
Natural Gas
Jun A direct rise above Res 230 may extend recovery upticks. Else, weakness is likely for the day.
Copper Jun
Immediate resistance at Rs 898 which needs to be cleared for further rallies.
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
Intraday sentiment mostly on the weaker side while prices stay below Rs 265.
Lead Jun
Expect choppy with negative bias trading while prices places below Rs 192.
Aluminium Jun
As long as Rs 242 hold downside, expect recovery upticks for the day.
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