Commodity Intraday Technical Outlook 21 November 2022 - Geojit Financial Services
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Gold LBMA Spot
Expect choppy with mild negative bias trading initially. A direct break above the resistance of $1780 would trigger rallies. Major support is placed at $1680.
Silver LBMA Spot
Corrective selling may continue as long as $22 caps the upside. A direct rise above the same is a sign of further rallies.
Crude Oil NYMEX
A direct break below $76 is a sign of major liquidation pressure. Inability to break the same would see recovery upticks.
Gold KG Dec
If unable to break above Rs 53000 expect corrective selling pressure for the day. A direct rise above the same would trigger fresh rallies.
Silver KG Dec
Expect a congested trade inside Rs 63000-59800 levels initially and breaking any of the sides would suggest fresh direction for the day.
Crude Oil Nov
A direct break of Rs 6200 would continue liquidation pressure. Else, there are chances of recovery upticks.
Natural Gas Nov
Consistent trades above Rs 540 would extend rallies. Otherwise, intraday bias most likely to be choppy with mild negative.
Copper Nov
Corrective selloffs are likely as long as the resistance of Rs 690 caps the upside. Anyhow major support is placed at Rs 668.
Nickel Nov
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Nov
Recovery upticks can be seen if the support of Rs 265 remain undisturbed. A direct drop below Rs 255 is a sign of weakness.
Lead Nov
Recovery upticks are on cards as long as the support of Rs 182 hold the downside. A direct drop of which would extend selling pressure.
Aluminium Nov
If unable to break the support of Rs 205 there are chances of recovery rallies. A direct drop below the same is a major liquidation signal.
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