Intraday Technical Outlook 17 June 2019 – Geojit Financial
Gold Mini Jul/ LBMA Spot Gold
Expect a corrective selloff before resuming further up moves in the counter. Immediate supports at 1330-1325 levels. Downside reversal point is seen at $1318.
Silver Mini Jun/ LBMA Spot Silver
Intraday bias likely to be choppy inside $15.15 -14.60 levels. Breaking any of the sides would suggest fresh direction to the commodity.
Expect a choppy trade inside 400-412 levels initially, breaking any of the sides would suggest fresh direction to the commodity.
Likely to continue the upticks while prices stay above the support of 858. Major liquidation is expected only a close below 845.
Lead Mini Jun
Dips to 151 likely find support for a recovery rally. A close below the same would negate our positive outlook.
Zinc Mini Jun
Major support is seen at 197, which if cleared may see selloffs to 192/188 levels. Else, likely to continue the mild positive outlook.
While prices stay above 140 expect recovery moves in the counter. Else, would continue selling pressure.
Crude Oil Jun/ NYMEX Crude
Inability to move past $53.50 expect a corrective selling which could take prices till $51.50/50.50 levels. Rallies above $53.50 next res at $55. MCX support at 3510. Res 3800.
Natural Gas Jun
As long as 162 hold the downside, expect recovery moves to continue the day.