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Published on 19/11/2019 9:51:40 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 19 November 2019 - Geojit Financial

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

Gold Mini Dec/ LBMA Spot

Gold If prices cross above $1478, intraday bias largely on the higher side towards $1494 followed by $1510 levels. Inability to move past the same would see corrective selling pressure. However, consistency below $1455 is required to trigger major liquidation towards $1420/1380 levels. MCX GoldM Dec: Res at 38450. Sup: 37300.

 

Silver Mini Nov/ LBMA Spot Silver

While prices stay above $16.60 expect recovery moves initially towards $17.20 followed by 17.80 levels. An unexpected drop below $16.60 would take prices lower towards the downside turnaround level of $15.20. MCX Nov: Res at 45500. Sup: 44100.

 

Copper Nov

As prices cleared the support of 437 expect selling pressure to continue the day. Turnaround point is seen at 442.

 

Nickel Nov

Liquidation pressure likely to continue as long as prices stay below 1138.

 

Lead Mini Nov

Inability to break 158 expect selling pressure in the counter which would take prices towards 153 or more later.

 

Zinc Mini Nov

Support of 191 needs to be cleared for continuation of selling pressure. Else, may see recovery upticks for the day.

 

Alumini Nov

While prices stay below 133 expect selling pressure to continue the day. Upside turnaround point is seen at 136.

 

Crude Oil Dec/ NYMEX Crude

Resistance of $58.50 needs to be cleared for continuation of further upticks in the counter. Else, may see corrective selling pressure towards the support of $56 initially followed by $54.50. Break above $58.50 next resistances are $60.40/63. MCX support at 4020. Res 4180.

 

Natural Gas Nov

While prices stay below 189 expect selling pressure to continue the day towards 184 or even more.

 

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