Commodity Intraday Technical Outlook 05 September 2023 - Geojit Financial Services
Gold LBMA Spot
If the support of $1925 remain holds, expect upticks to continue the day. Else, choppy trading is on the cards.
Silver LBMA Spot
Further rallies are seen only a break above $25. If not, expect corrective selling pressure.
Crude Oil NYMEX
As long as prices stay above $85 would continue rallies. A direct dip below $82 would extend correction.
Gold KG Oct
Break above Rs 58500 is required to extend rallies. Else, a mild selloffs expected the day.
Silver KG Sep
Extension of rallies are seen only a break above Rs 77000. Inability to do so may see weak bias for the day.
Crude Oil Sep
While prices stay above Rs 7000 it may extend rallies. Else, choppy with weak bias for the day.
Natural Gas Sep
Intraday bias most likely on the weaker side as long as prices stay below Rs 230. A direct rise above it may trigger further rallies.
Copper Sep
Prices remain range inside Rs 742-730 levels expected and breaking any of the sides would suggest fresh directional moves.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
A direct break above Rs 221 likely to extend rallies. Inability to do so may see corrective selling pressure.
Lead Sep
While prices stay above Rs 184 mild positive bias is on the cards. Consistent trades below Rs 182 is a sign of liquidation.
Aluminium Sep
Intraday dips likely to find support near Rs 200 and are chances of recovery upticks. Anyhow stiff resistance is placed at Rs 205.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Tag News
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...
More News
Buy Gold Above 75600 SL Below 75200 TGT 76100/76400 - Axis Securities Ltd