Commodity Intraday Technical Outlook 23 April 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
A direct drop below $2320 would correct prices further. Else, recovery upticks would be seen today.
Silver LBMA Spot:
Stiff support is placed at $27 if unable to break the same would see mild recovery rallies.
Crude Oil NYMEX:
As long as the support of $81 remain hold less likely for major selloffs. Unexpected drop of which would liquidate prices.
Gold KG Apr:
Consistent trades above Rs 72000 would trigger rallies. Else, mild correction is on the cards.
Silver KG May:
Corrective selloffs may continue while prices stay below Rs 81000.
Crude Oil Apr:
Consistent trades below Rs 6800 would liquidate prices further. Else, mild recovery moves expected the day.
Natural Gas Apr:
Likely for mild positive bias trading as long as prices stays above Rs 142.
Copper Apr:
Choppy trading expected initially but there are still potential upticks later.
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:
If unable to move past Rs 190 there are potential downside for the day.
Aluminium Apr:
Broad outlook remain positive but it required breaking Rs 244 to extend rallies. Else weak bias expected the day.
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