Commodity Intraday Technical Outlook 2 April 2024 -Geojit Financial Services
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Gold LBMA Spot:
Outlook remain bullish and expect rallies would continue the day.
Silver LBMA Spot:
Break above $25.50 would extend rallies. Else, intraday bias mostly on the weaker side.
Crude Oil NYMEX:
Consistent trades above $84 would extend rallies. Downside reversal point is placed at $76.
Gold KG Apr:
Bullish rallies remain intact and the downside reversal point is seen only below Rs 65500.
Silver KG May:
Resistance of Rs 77000 needs to be cleared for further rallies. Else, corrective selloffs are in the cards.
Crude Oil Apr:
Upticks may see initially but it required to stabilise above Rs 7000 to trigger major rallies.
Natural Gas Apr:
Pullback rallies likely to extend prices higher. Anyhow major resistance is seen at Rs 155.
Copper Apr:
Break above Rs 770 may see extension of rallies. Else, choppy trading expected the day.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Break below Rs 216 would extend selling pressure. Else, recovery upticks are expected.
Lead Apr:
Recovery rallies may see as long as the support of Rs 177 remain hold downside.
Aluminium Apr:
If prices stabilise above Rs 209.50 would see fresh upticks for the day. Else, choppy trades are on the cards.
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