Commodity Intraday Technical Outlook 24 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Broad outlook remain positive but expect choppy with corrective selloffs today.
Silver LBMA Spot
Outlook remain positive but it required breaking $32.50 to continue rallies.
Crude Oil NYMEX
Consistent trades below $77 would extend selling pressure. Else, recovery upticks are on the cards.
Gold KG Jun
Corrective selloffs likely to extend initially. Immediate upside turnaround point is at Rs 73000.
Silver KG Jul
A direct drop below Rs 90000 likely to see extension of weakness. If not, recovery upticks expected.
Crude Oil Jun
Selling pressure might continue as long as prices stay below Rs 6400.
Natural Gas May
Recovery upticks expected only above Rs 230. Else, may see weakness for the day.
Copper May
Choppy with mild recovery rallies are on the cards. 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
Stiff support is seen at Rs 236 which needs to be cleared for extend weakness. If not, recovery rallies expected the day.
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