Commodity Intraday Technical Outlook 22 April 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Initial sentiment mostly choppy with mild negative. However broad outlook remains on the positive side.
Silver LBMA Spot:
If unable to break the resistance of $29 there are chances of selling pressure. A direct rise above the same would lift prices higher.
Crude Oil NYMEX:
Choppy with volatile action seen today. Anyhow stiff downside support is placed at $80.
Gold KG Apr:
It is required to break Rs 73200 to lift prices higher. Else, mild correction is on the cards.
Silver KG May:
Further major rallies expected only above Rs 84500. If unable to so may see corrective selloffs.
Crude Oil Apr:
Expect a choppy trading initially. A direct drop below Rs 6800 would liquidate prices further.
Natural Gas Apr:
Choppy with mild positive bias trading expected the day as long as it stays above Rs 142.
Copper Apr:
Bullish rallies would continue while the support of Rs 852 remain undisturbed.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Positive outlook likely to extend initially. A break below Rs 238 would trigger weakness.
Lead Apr:
While above Rs 191 it may extend recovery rallies. Stiff support is placed at Rs 186.
Aluminium Apr:
As long as prices stay above Rs 238 bullish outlook remains on the cards.
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