Commodity Intraday Technical Outlook 22 March 2024 -Geojit Financial Services
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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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