Commodity Intraday Technical Outlook 16 April 2024 - Geojit Financial Services Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Gold LBMA Spot
Broad outlook remain bullish but intraday bias expect a choppy trading.
Silver LBMA Spot:
Consistent trades above $29 would extend bullish rallies for the day. Else, mild correction expected.
Crude Oil NYMEX:
Expect a tight trade inside $84-87 levels initially and breaking any of the sides would suggest fresh directions.
Gold KG Apr:
Choppy trading is likely for the day. Downside reversal point is seen only below Rs 69100.
Silver KG May:
Stiff support is placed at Rs 81500, which if cleared could extend selling pressure.
Crude Oil Apr:
As long as the support of Rs 7100 remain undisturbed expect recovery rallies for the day.
Natural Gas Apr:
Weak bias likely to continue while prices stay below Rs 145.
Copper Apr:
Broad outlook remain bullish as long as prices stay above Rs 815
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Choppy with positive outlook likely to see initially, but a break below Rs 238 would trigger weakness.
Lead Apr:
Intraday outlook seems choppy initially. Downside reversal point is placed at Rs 177.
Aluminium Apr:
Expect choppy trading session initially. However the broad trend remain bullish.
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
