Commodity Intraday Technical Outlook 31 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. Else, may see a choppy trading session.
Crude Oil NYMEX
While prices stay below $80 intraday momentum remain choppy with mild weakness.
Gold KG Jun
Further rallies expected only above Rs 72400. Inability to break it would see choppy with corrective selling.
Silver KG Jul
It is required to sustain above Rs 96500 to extend rallies. If not may see weakness for the day.
Crude Oil Jun
While below Rs 6500 intraday momentum remains on the weaker side.
Natural Gas Jun
Corrective selling pressure may continue initially. Stiff support is placed at Rs 205.
Copper Jun
Immediate resistance at Rs 898 which needs to be cleared for further rallies.
Nickel Jun
Expect choppy with thin volume trading in the near future.
Zinc Jun
Break below Rs 269 would extend selling pressure. Else, recovery upticks are on the cards.
Lead Jun
Expect choppy with negative bias trading while prices places below Rs 192.
Aluminium Jun
Stiff support is at Rs 242 a direct drop of which may extend selling pressure.
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