Commodity Intraday Technical Outlook 16 September 2022 - Geojit Financial Services Ltd
Gold LBMA Spot
Weal bias expected to continue initially. A direct turn above $1700 is a sign of reversal.
Silver LBMA Spot
Inability to move past the support of $18.50 there are chances of mild recovery upticks. Major liquidation is expected only a break of $17.40.
Crude Oil NYMEX
Intraday trend may choppy with mild positive bias. A direct drop below $84 is a sing of major weakens.
Gold KG Oct
Weak momentum may continue as long as prices stay below the support of Rs 49800. Recovery rallies are expected only a break above Rs 50200.
Silver KG Dec
It is required to trade consistently above Rs 57600 to extend rallies. Else, there are chances of corrective selling pressure for the day.
Crude Oil Sep
Further rallies expected only above Rs 7200. Inability to do so may see choppy with mild negative bias trading for the day.
Natural Gas Sep
While prices stay above the support of Rs 660 there are chances of recovery momentum to continue the day. Further weakness is seen only a break of Rs 608.
Copper Sep
A direct fall below Rs 644 would extend liquidation. Else, there are chances of recovery upticks for the day.
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
A direct break of Rs 281 would extend weakness. Else, expect a choppy trading session for the day.
Lead Sep
While prices stay above of Rs 178 mild positive bias is intact. Consistent trades below Rs 176 is a sign of weakness.
Aluminium Sep
Expect a congested trade inside Rs 204-198 levels initially and breaking any of the sides would suggest fresh directional moves.
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