Commodity Intraday Technical Outlook 21 March 2024 -Geojit Financial Services
Gold LBMA Spot:
Bullish outlook remain intact. Downside reversal is seen only below $2040.
Silver LBMA Spot:
While above $25.50 it may continue upticks for the day.
Crude Oil NYMEX:
A direct break below $80 would trigger selling pressure. Else, recovery rallies is on the cards.
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:
Choppy with mild negative bias expected the day.
Copper Mar:
Expect range bound trading with mild positive bias. 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:
Intraday outlook mostly on the positive side as long as the support of Rs 204 hold downside.
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