Commodity Intraday Technical Outlook 18 October 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks can be seen as long as the support of $1640 remains undisturbed. A direct drop below would trigger major liquidation pressure.
Silver LBMA Spot
A direct break below the support of $17.60 would extend liquidation pressure. Inability to do so may see recovery upticks for the day.
Crude Oil NYMEX
If unable to break the support of $84 there are chances of recovery upticks. An unexpected drop below the same is an early sign of further weakness.
Gold KG Dec
Immediate upside turnaround point is placed at Rs 51500. Inability to move past the same expect choppy with mild negative bias for the day.
Silver KG Dec
Intraday trend remains choppy with mild upticks. A direct dip below Rs 55000 would extend weakness.
Crude Oil Oct
Mild upticks can be seen if the support of Rs 6900 hold the downside. Major rallies are expected only a break above Rs 7280.
Natural Gas Oct
Liquidation pressure may extend while prices stay below Rs 520. A direct rise above Rs 560 is a recovery sign.
Copper Oct
Prices remain choppy inside Rs 660-642 levels and breaking any of the sides would suggest fresh directional move for the day.
Nickel Oct
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Oct
Liquidation pressure may continue while prices stay below Rs 270. Consistent trades above Rs 276 is a sign of reversal.
Lead Oct
Inability to move past Rs 185 expect selling pressure to continue the day. However, major support is seen at Rs 178.
Aluminium Oct
Expect a congested trade inside Rs 210-194 levels and either side breakout would suggest fresh short term direction.
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