Commodity Intraday Technical Outlook 01 September 2023 - Geojit Financial Services
Gold LBMA Spot
While above $1925 upticks would continue the day. Else, choppy trading is on the cards.
Silver LBMA Spot
Mild upticks expected while prices stay above $24.40. A direct drop below $23.80 is a sign of weakness.
Crude Oil NYMEX
As long as prices stay above $82 would continue rallies. Inability to consistent above the same corrective selling pressure is likely for the day.
Gold KG Oct
Upticks to continue while prices stay above Rs 58500. Consistent trades below the same is a sign of weakness.
Silver KG Sep
It is required to break and sustain above Rs 74500 to continue rallies. Else, choppy with corrective selloffs are on the cards.
Crude Oil Sep
Rallies would continue while prices stay above Rs 6650. A direct drop below the same may see weakness in prices for the day.
Natural Gas Sep
Immediate resistance is seen at Rs 238, clearing of which is mandatory to extend rallies. Else, corrective selloffs are on the cards.
Copper Sep
Break above Rs 738 is needed to extend rallies. Inability to do the same may see weakness for the day.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
Prices remains rangebound inside Rs 218-210 levels and either side breakout would suggest short term directions.
Lead Sep
Mild negative bias expected while prices stay below Rs 183. A direct rise above Rs 185 could negate the view.
Aluminium Sep
Upticks may continue as long as prices stay above Rs 200. Consistent trades below Rs 196 is a sign of weakness.
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