Commodity Intraday Technical Outlook 13 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Broad outlook remain bullish but intraday bias expect a choppy trading.
Silver LBMA Spot
Break above $29 would extend bullish rallies for the day. Else, mild correction expected the day.
Crude Oil NYMEX
If unable to sustain above $80 there are chances of selling pressure to continue the day.
Gold KG Jun
Extension of rallies are expected only above Rs 73000. If not weak bias may see the day.
Silver KG Jul
Stiff resistance is placed at Rs 84500. If unable to break it may see corrective selloffs for the day.
Crude Oil May
Expect choppy trades inside Rs 6700-6450 levels and breaking any of the sides would suggest fresh directions.
Natural Gas May
If the support of Rs 180 holds, expect mild recovery upticks for the day.
Copper May
Broad outlook remain positive as long as prices stay above Rs 860.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Choppy with mild positive bias expected as long as prices stay above Rs 258.
Lead May
Break above Rs 195 would extend buying pressure. Else, weakness is likely for the day.
Aluminium May
Consistent trades below Rs 230 would extend weakness for the day.
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