Commodity Intraday Technical Outlook 20 September 2022 - Geojit Financial Services
Gold LBMA Spot
Intraday momentum remains choppy initially. A direct rise above $1680 is needed to extend upticks for the day
Silver LBMA Spot
Immediate resistance is seen at $19.80. Break of which would extend rallies. Else, there are chances of selling pressure.
Crude Oil NYMEX
Consistent trades below $82 prices would liquidate further. Else, expect choppy trades in cards for the day.
Gold KG Oct
Prices remains choppy with mild negative as long as it stays below Rs 49800. Recovery upticks are expected only a break above Rs 50200.
Silver KG Dec
A direct break above Rs 57600 would extend rallies. Else, there are chances of corrective selling pressure for the day.
Crude Oil Sep
Intraday trend more likely to be range bound inside Rs 6500-7200 levels and breaking either sides would suggest fresh short term directions
Natural Gas Sep
A mild recovery bias expected initially it is tough to break the resistances of Rs 660. Consistent trades below Rs 615 would liquidate prices further.
Copper Sep
Prices remains choppy inside Rs 630-660 levels and breaking any of the sides would suggest fresh directional moves for the day.
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
Break above the resistance of Rs 292 is needed to trigger fresh buying momentum. Else, weak bias in the cards for the day.
Lead Sep
While prices stay above Rs 178 likely to extend the recovery momentum. Else, weakness may be seen for the day.
Aluminium Sep
Weakness may continue if prices are unable to move past Rs 202. However stiff downside support is seen at Rs 195.
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