Commodity Intraday Technical Outlook 23 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Broad outlook remain positive but expect a choppy trading for the day.
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
Corrective selloffs expected initially. Break above Rs 74500 would extend rallies.
Silver KG Jul
Break below Rs 92500 would see extension of weakness. If not recovery bias expected the day.
Crude Oil Jun
Corrective selloffs expected as long as Rs 6600 caps upside.
Natural Gas May
While prices stay above Rs 235 may extend rallies. Else, choppy traded ahead.
Copper May
Corrective selloffs may extend while prices stay below Rs 900.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
A direct drop below Rs 271 may see selling pressure. Else, rallies would continue.
Lead May
While prices stay below Rs 194 intraday bias mostly on the weaker side.
Aluminium May
Inability to move past Rs 245 weak bias likely to continue the day
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