Commodity Intraday Technical Outlook 09 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Prices remain choppy initially. Anyhow consistent trades below $2320 would correct prices further.
Silver LBMA Spot
Inability to move past $ 27.50 there are potential selling pressure for the day.
Crude Oil NYMEX
Recovery upticks likely to see initially. Anyhow major rallies are seen only above $84.
Gold KG Jun
It required to break above Rs 72000 to trigger rallies. Else, mild correction is on the cards.
Silver KG Jul
Expect a choppy trade inside Rs 83500-81000 initially and either sides breakout would suggest fresh directions.
Crude Oil May
Inability to move past Rs 7000, intraday bias mostly choppy for the day.
Natural Gas May
Recovery rallies are seen only above Rs 185. If not, choppy trades are likely for the day.
Copper May
Choppy trading expected initially but there are still potential upticks later.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Consistent trades above Rs 250 would extend rallies. Else, weakness is expected the day.
Lead May
Consistent trades above Rs 190 would extend rallies.
Aluminium May
While prices stay below Rs 234 intraday bias mostly on the weaker side.
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