Commodity Intraday Technical Outlook 8 April 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot:
Initial correction expected, but broad trend remain bullish.
Silver LBMA Spot:
Choppy with mild negative bias expected the day. However, while above $25.50 broad outlook remains on the positive side.
Crude Oil NYMEX:
Corrective selling expected initially. However, major downside turnaround is seen only below $81.
Gold KG Apr:
Intraday bias mostly on the weaker side. But still there are potential upsides later.
Silver KG May:
Weak bias expected the day. Further rallies are seen only above Rs 80000.
Crude Oil Apr:
If unable to move past Rs 7280 weak bias expected the day.
Natural Gas Apr:
Bearish outlook would continue while prices stay below Rs 150.
Copper Apr:
Further upticks are seen only consistent trades above Rs 800.
Nickel Apr:
Expect choppy with thin volume trading in the near future.
Zinc Apr:
Expect corrective selling pressure. Direct rise above Rs 235 would trigger further rallies.
Lead Apr:
Further weakness seen only below Rs 182. Else, outlook remain positive.
Aluminium Apr:
Consistent trades above Rs 224 would extend rallies. Else, choppy trades expected the day.
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