Commodity Intraday Technical Outlook 5 April 2024 - Geojit Financial Services
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Gold LBMA Spot:
Broad outlook remain bullish but intraday bias mostly choppy with mild negative.
Silver LBMA Spot:
Choppy with corrective selling pressure expected initially. Anyhow downside turnaround point is seen at $24.20.
Crude Oil NYMEX:
Upticks likely to continue the day. Unexpected drop below $81 is reversal sign.
Gold KG Apr:
Psychological level of Rs 70000 if remain capped expect corrective downside for the day.
Silver KG May:
Further rallies are seen only above Rs 80000, if not expect corrective downside for the day.
Crude Oil Apr:
Choppy trading expected the day. A direct drop below Rs 7000 to trigger weakness.
Natural Gas Apr:
Weakness likely to extend the day. Consistent trades above Rs 165 would see further rallies.
Copper Apr:
Bullish bias likely to take prices further higher the day. Stiff support is placed at Rs 775.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Bullish outlook remain intact as long as prices stay above Rs 228.
Lead Apr:
Recovery rallies may see as long as the support of Rs 178 remain hold downside.
Aluminium Apr:
Broad bias remain bullish but intraday outlook likely for corrective selling but major weakness not expected.
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