Commodity Intraday Technical Outlook 1 April 2024 -Geojit Financial Services
Gold LBMA Spot:
Outlook remain bullish and expect rallies would continue the day.
Silver LBMA Spot:
Break above $25.50 would extend rallies. Else, intraday bias mostly on the weaker side.
Crude Oil NYMEX:
Upticks would continue initially but it required breaking $84 for major rallies. Downside reversal point is placed at $76.
Gold KG Apr:
Bullish rallies remain intact and the downside reversal point is seen only below Rs 65500.
Silver KG May:
Upticks likely to continue initially. Immediate downside turnaround point is seen at Rs 74000.
Crude Oil Apr:
Upticks may see initially but it required to break at Rs 7000 to trigger major rallies.
Natural Gas Apr:
Pullback rallies likely to extend prices higher. Anyhow major resistance is seen at Rs 155.
Copper Apr:
Immediate upside resistance of Rs 775 needs to be cleared for further rallies. Downside reversal point is seen at Rs 730.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Choppy trading expected initially. Major resistance is seen at Rs 227.
Lead Apr:
Recovery rallies may see as long as the support of Rs 177 remain hold downside.
Aluminium Apr:
Stiff resistance is seen at Rs 209.50 which needs to be cleared for further major rallies.
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