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Published on 31/05/2019 9:10:24 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 31 May 2019 - Geojit Financial

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Gold Mini Jun/ LBMA Spot Gold

Technical Commentary

Expect pullback rallies to continue as prices cleared the stiff resistance of $1288. Downside turnaround point is seen at $1272.

 

Silver Mini Jun/ LBMA Spot Silver

Technical Commentary

Prevailing mild weakness likely to continue as long as prices stay below $14.60. Strong rallies are expected only a break of $15.10.

 

Copper Jun

Technical Commentary

Weakness likely to continue as prices break the support of 415. Upside turnaround point is seen at 422.

 

Nickel Jun

Technical Commentary

Expect the recovery moves to continue as prices close above 870. Further weakness is expected only a close below 855.

 

Lead Mini Jun

Technical Commentary

Pullback rallies expected to continue as long as prices stay above 147.

 

Zinc Mini Jun

Technical Commentary

Expect a choppy trade inside 212.50-207 levels initially. Breaking any of the sides would suggest fresh direction to the commodity.

 

Alumini Jun

Technical Commentary

Inability to move past 147 expect continuation of selling pressure.

 

Crude Oil Jun/ NYMEX Crude

Technical Commentary

As prices cleared the support of $57, expect to extend the selloffs to $55.50/54 or more. Upside turnaround point is seen at $60. MCX support at 3970. Res 4300.

 

Natural Gas Jun

Technical Commentary

Expect a choppy trade inside 190-175 levels. Breaking any of the sides would suggest fresh direction to the commodity.

 

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