Commodity Intraday Technical Outlook 26 March 2024 -Geojit Financial Services
Gold LBMA Spot:
Prices likely to be choppy initially. Anyhow, the broad trend remains bullish.
Silver LBMA Spot:
A direct break above $25.50 would extend rallies. Else, intraday bias mostly on the weaker side.
Crude Oil NYMEX:
Positive outlook is intact as long as prices stays above $80. Downside reversal point is placed at $76.
Gold KG Apr:
Inability to break the support of Rs 64200 prevailing bullish outlook remain intact in the counter.
Silver KG May:
Expect choppy with mild upticks initially. Immediate downside turnaround point is seen at Rs 74000.
Crude Oil Apr:
Resistance is paled at Rs 7000, which needs to be cleared for further rallies.
Natural Gas Apr:
A direct break below Rs 132 would extend further weakness. Else, mild recovery can be seen.
Copper Apr:
Choppy with positive bias expected the day. Anyhow stiff resistance is seen at Rs 775.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
It is required to break above Rs 226 to extend rallies. Else, choppy with weak bias is on the cards
Lead Apr:
Recovery rallies seen only above Rs 181. If not, weakness would continue the day.
Aluminium Apr:
Recovery rallies is on the cards as long as prices stay above Rs 206.
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