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16-04-2024 11:17 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 16 April 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:

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.

 

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