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20-03-2024 10:25 AM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 20 March 2024 -Geojit Financial Services

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Gold LBMA Spot:

Expect a choppy trading initially. Anyhow, the broad trend remains bullish.

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:

Inability to break the support of Rs 64200 prevailing bullish outlook remain intact in the counter.

Silver KG May:

Upticks likely to continue initially. Immediate downside turnaround point is seen at Rs 74000.

Crude Oil Apr:

Resistance is paled at Rs 7000, which needs to be cleared for further rallies.

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:

Prices remain choppy with mild negative but it required trade consistently below Rs 203 for major selloffs.

 

 

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