Commodity Intraday Technical Outlook 21 September 2022 - Geojit Financial Services
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Gold LBMA Spot
While prices stay below the support of $1660 there are chances of choppy with mild negative bias trading initially. Consistent trades above $1680 would see recovery upticks.
Silver LBMA Spot
Choppy with recovery upticks may be see if the support of $18.50 remains undisturbed. An unexpected drop below the same would trigger liquidation pressure.
Crude Oil NYMEX
While prices stay below the stiff support $84 expect weak momentum for the day. Further rallies can be seen only a break above $88.
Gold KG Oct
Range bound trading expected initially as long as it stays below Rs 49800. Recovery upticks are expected only a break above Rs 50200.
Silver KG Dec
If unable to move past the resistance of Rs 57600 expect selling pressure to continue the day. A direct lift above would trigger fresh rallies in the counter.
Crude Oil Sep
Expect a range bound move with mild negative bias initially. Further rallies expected only above Rs 7200.
Natural Gas Sep
A mild recovery in prices can be seen if the support of Rs 610 remains undisturbed. A direct break above Rs 625 likely to trigger rallies.
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
If unable to move past Rs 285 there are potential selling pressure for the day. Major upside turning point is seen at Rs 292.
Lead Sep
Prices remains consistent above Rs 178 to continue recovery upticks. Else, there are chances of corrective selling pressure.
Aluminium Sep
A direct break below Rs 196 expect liquidation pressure to continue the day. Inability to do the same would see recovery rallies.
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