Commodity Intraday Technical Outlook 18 April 2024 - Geojit Financial Services Ltd
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:
Stiff support is placed at $82 which if cleared would extend selling pressure. Else, recovery upticks are on the cards.
Gold KG Apr:
Choppy trading is likely for the day. Downside reversal point is seen only below Rs 69100.
Silver KG May:
Further rallies expected only above Rs 84500. If unable to so may see corrective selloffs for the day.
Crude Oil Apr:
While prices stay below Rs 7100 intraday sentiments mostly on the weaker side.
Natural Gas Apr:
If the support of Rs 142 holds, expect mild recovery upticks for the day.
Copper Apr:
A direct break above Rs 835 would trigger fresh rallies. Else, choppy trading expected the day.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Positive outlook likely to extend initially. A break below Rs 238 would trigger weakness.
Lead Apr:
Prices remain rangebound inside Rs 190-186 levels and either side breakout would suggest fresh directions.
Aluminium Apr:
As long as prices stay above Rs 230 bullish outlook remains on the cards.
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