Commodity Intraday Technical Outlook 3 May 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
Choppy trades expected initially. Consistent trades above $2350 would recover prices further.
Silver LBMA Spot
A direct break above $ 27.50 would trigger further rallies.
Crude Oil NYMEX
Choppy trades expected initially. A direct break below $79 would trigger another round of selling pressure.
Gold KG Jun
Support is placed at Rs 70000 which if cleared would extend corrective selloffs. Else, there are chances of recovery upticks.
Silver KG Jul
Choppy trades inside Rs 82500-79000 levels expected initially. Either sides breakout would set further directions.
Crude Oil May
Further selloffs seen only below Rs 6500. If unable to break it would see recovery rallies.
Natural Gas May
Recovery upticks would continue while prices stay above Rs 165.
Copper May
Downside reversal point is placed at Rs 830. As long as it holds, there are chances of recovery rallies.
Nickel May
Expect choppy with thin volume trading in the near future.
Zinc May
While prices stay above Rs 250 intraday outlook remain on the positive side.
Lead May
Prices most likely choppy inside Rs 192.50-190 levels initially.
Aluminium May
While prices stay below Rs 232 it may extend corrective downsides for the day.
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