Commodity Intraday Technical Outlook 19 March 2024 -Geojit Financial Services
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Gold LBMA Spot:
While the broad trend remains bullish, expect a choppy trading session for the day.
Silver LBMA Spot:
Break above $25.50 would extend rallies. Else, intraday bias mostly on the weaker side.
Crude Oil NYMEX:
Outlook remains on the positive side while it stays above $80. Downside reversal point is placed at $76.
Gold KG Apr:
Broad outlook remain bullish. Immediate downside reversal point is seen at Rs 64200.
Silver KG May:
Upticks likely to continue initially. Immediate downside turnaround point is seen at Rs 74000.
Crude Oil Apr:
Initial dips expected but later it may trigger rallies. Break below Rs 6600 is a weak signal.
Natural Gas Mar:
Pullback rallies likely to extend prices higher. Anyhow major resistance is seen at Rs 155.
Copper Mar:
Positive outlook remain intact with immediate upside resistance is placed at Rs 775. Downside reversal point is seen at Rs 730.
Nickel Mar:
Expect choppy with thin volume trading in the near future.
Zinc Mar:
Further rallies are seen only above Rs 226. If not expect a range bound trading for the day.
Lead Mar:
Recovery rallies seen only above Rs 181. If not, weakness would continue the day.
Aluminium Mar:
It is required to trade consistently above Rs 205 to extend rallies. Else, likely for choppy with weak bias.
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