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2024-03-19 11:29:43 am | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 19 March 2024 -Geojit Financial Services

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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