Commodity Intraday Technical Outlook 19 September 2022 - Geojit Financial Services Ltd
Gold LBMA Spot
Inability to break the support of $1660 there are chances of recovery upticks. A direct break of which would continue selling pressure.
Silver LBMA Spot
Expect recovery bias if prices held the support of $18.50. An unexpected drop below the same would trigger liquidation pressure.
Crude Oil NYMEX
Stiff support is seen at $84. As long as prices stay above the same expect recovery moves for the day. Else, weak bias is on the cards.
Gold KG Oct
Prices remains choppy with mild negative as long as it stays below Rs 49800. Recovery upticks are expected only a break above Rs 50200.
Silver KG Dec
Consistent trades above Rs 57600 would extend rallies. Else, there are chances of corrective selling pressure for the day
Crude Oil Sep
Choppy trading remains on the cards initially. Further rallies expected only above Rs 7200.
Natural Gas Sep
A direct break below Rs 620 would trigger another round of liquidation pressure. If unable to do the same may see recovery upticks.
Copper Sep
Prices remains choppy inside Rs 630-660 levels and breaking any of the sides would suggest fresh directional moves for the day.
Nickel Sep
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Sep
Further rallies are expected only a break above Rs 292. Else, weak bias in the cards for the day.
Lead Sep
Directionless moves are expected initially. Consistent trades above Rs 178 may extend mild positive bias for the day.
Aluminium Sep
Prices continue to be trade choppy inside Rs 204- 198 levels initially and either side breakout would suggest short term direction.
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