Commodity Intraday Technical Outlook 2 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy trades expected initially. Consistent trades above $2350 would recover prices further.
Silver LBMA Spot
Inability to move past $ 27.50 there are potential selling pressure for the day.
Crude Oil NYMEX
A direct break below $79 would trigger another round of selling pressure.
Gold KG Jun
Support is placed at Rs 70000 which if cleared would extend corrective selloffs. Else, there are chances of recovery upticks.
Silver KG Jul
Prices remain choppy inside Rs 82500-79000 initially and either sides breakout would suggest fresh directions.
Crude Oil May
As long as prices stay below Rs 6700, choppy with weakness likely to continue the day.
Natural Gas May
Consistency above Rs 165 may lift prices further higher. If not, expect weakness for the day.
Copper May
Choppy trading expected initially but there are still potential upticks later.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
While prices stay above Rs 250 intraday outlook remain on the positive side.
Lead May
Prices most likely choppy inside Rs 192.50-190 levels initially.
Aluminium May
As long as Rs 234 hold downside, there are potential rallies are on the cards.
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