Commodity Intraday Technical Outlook 20 March 2024 -Geojit Financial Services
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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