Commodity Intraday Technical Outlook 17 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Bullish outlook likely to continue while prices stays above $2330.
Silver LBMA Spot
Outlook remain positive but it required breaking $30 to continue rallies.
Crude Oil NYMEX
Tight trades inside $80-77 levels expected initially and either sides breakout would suggest fresh directions.
Gold KG Jun
Break above Rs 73500 would extend rallies. If not, may see choppy with corrective selling.
Silver KG Jul
Break above Rs 87500 is needed to extend rallies. If unable to it may see selling pressure.
Crude Oil May
If unable to break the support of Rs 6400 would see recovery rallies.
Natural Gas May
Consistent trades above Rs 200 may extend rallies. Else, choppy traded ahead.
Copper May
Outlook remain positive and downside reversal is seen only below Rs 880.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Further rallies expected only a break above Rs 268. If unable to break it would see weak bias for the day.
Lead May
Break above Rs 195 would extend buying pressure. Else, weakness is likely for the day.
Aluminium May
Break above Rs 240 is needed to extend buying pressure. Else, choppy trades expected the day.
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