Published on 18/09/2020 12:41:20 PM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 18 September 2020 - Geojit Financial

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

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Gold Mini Sep/ LBMA Spot Gold

Prices continue to be choppy inside $1975- 1900 regions initially. Breaking any of the sides would suggest fresh direction to the commodity. Anyhow, a direct drop below $1880 is a signal of reversal. MCX Gold Oct Res: 52120 Support: 50940.


Silver Mini Nov/ LBMA Spot Silver

Immediate upside obstacle is seen at $27.60 which needs to be cleared for continuation of further upticks in the counter. Else, may see weak sentiments for the day. An unexpected drop below $25.80 is a signal of continuation of selling pressure. MCX SilverM Nov: Res at Rs 71350. Sup: 66150.


Copper Sep

Consistent trades above 528 would take prices further higher. Else, likely for corrective selling for the day. A direct drop below 512 is a signal of reversal.


Nickel Sep

Rallies may continue only if prices stay above 1128. Otherwise expect a choppy trading session for the day.


Lead Sep

A direct break of 146 is required to continue selling pressure. Else, may see recovery momentum for the day.


Zinc Sep

As long as prices stay above 185 buying momentum would continue. However a close below 186 is a signal of reversal.


Aluminium Sep

Support of 144 if undisturbed, expect recovery moves for the day. Else, there are chances of selling pressure.


MCX Crude Oil Sep/NYMEX Crude Oct

Immediate resistance of $42 required to be cleared for continuation of further rallies. Else, expect corrective selling pressure for the day. MCX Sep: Res at Rs 3120 / Support: Rs 2860.


Natural Gas Sep

As prices cleared the stiff support of $2, expect weak bias initially, but it required to break the support of $1.88 to continue the momentum. A direct turn above $2.10 is a signal of reversal.


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