Commodity Intraday Technical Outlook 22 May 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Bullish outlook likely to continue while prices stays above $2330.
Silver LBMA Spot
Outlook remain positive but it required breaking $32.50 to continue rallies.
Crude Oil NYMEX
A direct drop below $77 would extend selling pressure. Else, recovery upticks are on the cards.
Gold KG Jun
Break above Rs 74500 would extend rallies. If not, may see choppy with corrective selling
Silver KG Jul
Stiff resistance is seen at Rs 96000 which needs to be cleared for further rallies. If unable to it may see selling pressure.
Crude Oil May
Corrective selloffs expected as long as Rs 6600 caps upside
Natural Gas May
Consistent trades above Rs 235 may extend rallies. Else, choppy traded ahead.
Copper May
Outlook remain positive and downside reversal is seen only below Rs 920.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
A direct drop below Rs 274 may see corrective selloffs. Else, rallies would continue.
Lead May
Break above Rs 199 would extend buying pressure. Else, weakness is likely for the day.
Aluminium May
Trades above Rs 250 is needed to extend buying pressure. Else, choppy trades expected the day.
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