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2024-03-22 11:17:58 am | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 22 March 2024 -Geojit Financial Services

Gold LBMA Spot:

Bullish outlook remain intact. Downside reversal is seen only below $2040.

Silver LBMA Spot:

Choppy trading expected initially. It is required to trade above $25.50 to continue upticks for the day.

Crude Oil NYMEX:

A direct break below $80 likely to trigger selling pressure. Else, recovery rallies is on the cards.

Gold KG Apr:

As long as the support of Rs 64200 hold downside, prevailing bullish outlook remain intact in the counter.

Silver KG May:

A direct drop below Rs 74000 would extend corrective selling pressure. Else, rallies would continue the day.

Crude Oil Mar:

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

Natural Gas Mar:

Mar Break below the support of Rs 138 would extend weakness for the day. Else, choppy trading expected.

Copper Mar:

Choppy trades inside Rs 770-754 initially expected and breaking any of the sides would setoff fresh moves.

Nickel Apr:

Expect choppy with thin volume trading in the near future.

Zinc Apr:

Break above Rs 224 may extend rallies. Else, corrective selloffs expected the day.

Lead Apr:

While below Rs 178 intraday momentum likely to be on the weaker side. Close above Rs 183 is sign of reversal.

Aluminium Apr:

Expect a congested trade inside Rs 209-206 levels and either side breakout would suggest fresh directions.

 

 

 

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