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Published on 21/05/2019 11:03:43 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 21st-May-2019 - Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Gold Mini Jun/ LBMA Spot Gold

Technical Commentary

Expect a choppy trade inside $1266-1288 levels with mild positive bias for the day. Breaking any of the sides would suggest fresh direction to the commodity.

 

Silver Mini Jun/ LBMA Spot Silver

Technical Commentary

Prevailing mild weakness likely to continue as long as prices stay below $14.80. Strong rallies are expected only a break of $15.10.

 

Copper Jun

Technical Commentary

Expect recovery in prices as long as it stays above the strong support of 422.

 

Nickel May

Technical Commentary

While prices stay above 825 expect to continue the recovery moves. Further selloffs are expected once prices closes below the support of 820.

 

Lead Mini May

Technical Commentary

As long as 125 hold the downside expect recovery rallies. Else, may continue weakness.

 

Zinc Mini May

Technical Commentary

Expect a range bound trading inside 193-187 levels with mild negative bias.

 

Alumini May

Technical Commentary

As long as 127 caps upside, expect corrective selling pressure for the day.

 

Crude Oil May/ NYMEX Crude

Technical Commentary

The ongoing positive bias likely to continue as long as prices stay above $62. Next res at $64/65.20. Major support is seen at $60. MCX resistance at 4400/4490. Support 4350.

 

Natural Gas May

Technical Commentary

Inability to move past 189, expect mild negative bias for the day.

 


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