Commodity Intraday Technical Outlook 19 October 2022 - Geojit Financial Services
Gold LBMA Spot
Choppy with mild negative bias remains on the cards. However a direct drop below the support of $1640 would trigger major liquidation.
Silver LBMA Spot
Expect a narrow trade inside $19.20-18 levels expected initially and breaking any of the sides would suggest fresh directional moves for the day.
Crude Oil NYMEX
Immediate support of $81 needs to be cleared for continuation of selling pressure. Else, recovery upticks can be seen today.
Gold KG Dec
Break above Rs 51500 is required to extend buying interest. Else, choppy with mild negative bias expected the day.
Silver KG Dec
Expect a choppy trade initially for the day. A direct dip below Rs 55000 would extend weakness.
Crude Oil Oct
Prices remains choppy with directionless moves. However, consistent trades below Rs 6800 would liquidate prices further.
Natural Gas Oct
Though the broad trend remains on the weaker side, expect a mild recovery initially. It needs to stabilise above Rs 520 to trigger fresh rallies.
Copper Oct
As prices cleared the support of Rs 640 there are chances of continuation of selling pressure. Recovery upticks are expected only a break above Rs 650.
Nickel Oct
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Oct
Mild recovery expected as long as the support of Rs 264 remains hold the downside. However major rallies are least expected.
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
Broad outlook remains on the weaker side but there are chances of mild recovery in the initial hours. A direct rise above Rs 200 would continue upticks.
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