Commodity Intraday Technical Outlook 04 November 2022 - Geojit Financial Services
Gold LBMA Spot
Stiff support of $1610 needs to be cleared for continuation of selling pressure. Else, expect mild recovery uptick for the day
Silver LBMA Spot
Prices most likely choppy inside $20-18.80 levels initially and breaking any of the sides would suggest fresh short term directions.
Crude Oil NYMEX
If unable to break the support of $87 there are chances of recovery upticks. A direct dip below $86 is a weak signal.
Gold KG Dec
Support is seen at Rs 50000 which if cleared would continue selling pressure. Otherwise a mild recovery is on the cards for the day.
Silver KG Dec
It is required to break above Rs 58800 to trigger recovery upticks. Else, there are chance of corrective selling pressure.
Crude Oil Nov
While prices stay above Rs 7200 there are chances of continuation of upticks. A direct drop below Rs 7020 would trigger selling pressure.
Natural Gas Nov
Break above the resistance of Rs 520 is required to continue rallies. Inability to do so may see corrective selling pressure.
Copper Nov
If unable to sustain above Rs 665 there are chances of selling pressure. A direct rise above would trigger fresh rallies.
Nickel Nov
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Nov
Intraday trend largely to be choppy inside Rs 260- 250 levels and breaking any of the sides would suggest fresh short term direction.
Lead Nov
It is required to break above Rs 183 to continue rallies. Inability to do so may see corrective selling pressure.
Aluminium Nov
It is required to break above Rs 202 to trigger another round of rallies. Else, the trend remains choppy for the day.
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