Commodity Intraday Technical Outlook 24 April 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Initial bias most likely choppy. Anyhow consistent trades below $2320 would correct prices further.
Silver LBMA Spot:
Stiff support is placed at $27 if unable to break the same would see mild recovery rallies.
Crude Oil NYMEX:
Expect a tight range bound trade inside $84-81 levels and breaking either
Gold KG Apr:
Consistent trades above Rs 72000 would trigger rallies. Else, mild correction is on the cards.
Silver KG May:
While prices stay below Rs 81000 intraday sentiment mostly choppy with mild negative.
Crude Oil Apr:
Further selloffs expected only below Rs 6740. If it remains holds expect recovery upticks.
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 remain on the cards but it needs breaking Rs 248 to trigger major rallies.
Lead Apr:
If unable to move past Rs 190 there are potential downside for the day
Aluminium Apr:
Expect a range bound trade for the day. However consistent trades below Rs 232 would extend correction.
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