Commodity Intraday Technical Outlook 11 April 2023 – Geojit Financial Services

Gold LBMA Spot

Inability to move past $1960 there are chances of recovery upticks. However, consistent trades above $2000 would trigger fresh rallies. Major liquidation is seen only a break of $1920.

Silver LBMA Spot

A direct break above $25 would continue the buying momentum. Unexpected drop below $22 is a sign of weakness.

Crude Oil NYMEX

There are chances of corrective selling as long as $82 caps the upside. Anyhow major liquidation is least expected the day.

Gold KG Jun

Initial corrective selling expected as long as Rs 60500 caps upside. A direct rise above Rs 61000 would trigger another round of bullish rallies.

Silver KG May

Consistent trades above the resistance of Rs 75000 may take prices to new highs. A direct drop below Rs 71000 is a sign of reversal.

Crude Oil Apr

Prices needs to break above Rs 6700 to continue rallies. Else, expect a choppy trading session for the day.

Natural Gas Apr

If unable to move past Rs 164 buying interest would continue in the counter. Anyhow major rallies are seen only a break above Rs 185.

Copper Apr

Prices remains range bound inside Rs 758-785 levels and breaking any of the sides would suggest fresh directional moves.

Nickel Apr

Expect choppy with thin volume trading in the near future.

Zinc Apr

As long as prices stay below Rs 252 weak bias is on the cards. Unexpected turn above the same would trigger rallies.

Lead Apr

Expect a tight trade inside Rs 180-184 levels and breaking any of the sides would suggest fresh directional moves.

Aluminium Apr

If the support of Rs 204 remains holds there are chances of recovery upticks. A direct dip below Rs 202 is a weak sign.


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