Commodity Intraday Technical Outlook 12 April 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot:
Outlook remain bullish and expect rallies would continue the day.
Silver LBMA Spot:
While prices stay above $28 would extend the bullish outlook. Else, choppy trading expected the day.
Crude Oil NYMEX:
Weakness seen only below $84, else it may continue rallies for the day.
Gold KG Apr:
A direct break above Rs 71700 there are chances for more bullish upticks. Downside reversal point is seen only below Rs 69100.
Silver KG May:
Consistent trades above Rs 83000 bullish outlook would continue the day as well. Immediate reversal point is seen at Rs 78000.
Crude Oil Apr:
Intraday outlook mostly on the upside as long as the support of Rs 7000 hold downside.
Natural Gas Apr:
While below the support of Rs 145 intraday momentum mostly on the weaker side.
Copper Apr:
Choppy trades inside Rs 825-810 expected initially and either side breakout would direct further moves.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Break above Rs 238 would extend rallies. Else, weakness is on the cards.
Lead Apr:
Intraday outlook seems choppy initially. Downside reversal point is placed at Rs 177.
Aluminium Apr:
Consistent trades above Rs 226 would extend rallies. Downside reversal seen only below Rs 218.
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