Commodity Intraday Technical Outlook 08 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Further rallies are seen only above $2330. If unable to break it would see corrective selloffs.
Silver LBMA Spot
A direct drop below $27 would extend selling pressure.
Crude Oil NYMEX
A direct break below $76 would trigger another round of selling pressure.
Gold KG Jun
Break above the resistance of Rs 71600 would extend rallies. If not, expect weak bias for the day.
Silver KG Jul
Resistance is placed at Rs 83000 and breaking of the same is needed to extend rallies. Else, weakness expected the day.
Crude Oil May
Stiff support is placed at Rs 6480 which if holds further would see recovery upticks.
Natural Gas May
If unable to move past Rs 190 expect selling pressure to continue the day.
Copper May
Inability to break above Rs 870 there are chances of selling pressure for the day.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
While prices stay above Rs 258 intraday outlook remain on the positive side.
Lead May
Upticks would continue while prices stay above Rs 192.
Aluminium May
Inability to move past Rs 238 there are chances of selling pressure for the day
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