Commodity Intraday Technical Outlook 29 April 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy with mild negative bias expected initially. 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
If unable to break above $84 there are chances of selling pressure for the day.
Gold KG Apr
Consistent trades above Rs 72000 would trigger rallies. Else, mild correction is on the cards.
Silver KG Jul
Intraday bias mostly on the weaker side as long as prices stay below Rs 82500.
Crude Oil May
Inability to move past Rs 7000, intraday bias mostly on the weaker side.
Natural Gas May
Recovery rallies expected only a direct break above Rs 165. If not, expect weakness for the day.
Copper May
Choppy trading expected initially but there are still potential upticks later.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
Consistent trades above Rs 250 would extend rallies. Else, weakness is expected the day.
Lead May
Consistent trades above Rs 190 would extend rallies.
Aluminium May
Expect a choppy trade inside Rs 244-234 levels broadly and breaking any of the sides would suggest fresh directions.
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