Commodity Intraday Technical Outlook 29 May 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Price remain choppy initially and if it clears $2320 would drag prices lower.
Silver LBMA Spot
Further rallies ae seen only above $32.50. If not, may see a choppy trading session.
Crude Oil NYMEX
Consistent trades above $80 may extend recovery upticks. Else, corrective selloffs are likely.
Gold KG Jun
Immediate upside turnaround point is at Rs 72400. Inability to break it would see choppy with corrective selling.
Silver KG Jul
Outlook remain bullish but it needs to break Rs 96500 to extend rallies today.
Crude Oil Jun
Recovery pullback would continue as long as Rs 6400 hold downside.
Natural Gas May
Recovery rallies expected the day. Downside reversal point is placed at Rs 205.
Copper Jun
As long as Rs 940 caps upside expect weak bias for the day.
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
Consistent trades above Rs 278 would extend rallies. Else, weakness is on the cards.
Lead Jun
Further rallies seen only above Rs 196. Else, weak bias is on the cards.
Aluminium Jun
Buying pressure likely to continue the day initially. Immediate downside reversal point is at Rs 242.
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