Commodity Intraday Technical Outlook 22 September 2022 - Geojit Financial Services
Gold LBMA Spot
Stiff support is placed at $1650. A direct break of which could trigger further liquidation pressure. Else, expect a choppy trading for the day.
Silver LBMA Spot
Weak bias may continue as long as the resistance of $19.90 caps upside. A direct drop below $18.50 is a sign of major selling pressure.
Crude Oil NYMEX
Choppy trading expected initially. A direct drop below $81 is a sign of major liquidation pressure.
Gold KG Oct
Weak bias remains on the cards for the day. A direct turn above Rs 49500 is an early sign of recovery.
Silver KG Dec
If unable to move past the resistance of Rs 58000 expect selling pressure to continue the day. An unexpected rise above the same would trigger fresh rallies in the counter.
Crude Oil Sep
Expect negative bias to continue initially. Further rallies expected only above Rs 7200.
Natural Gas Sep
Prices remains range bound inside Rs 635-610 levels and breaking any of the sides would suggest fresh directional moves for the day.
Copper Sep
A direct rise above Rs 650 would trigger fresh buying sentiment. Else, choppy with negative bias is on the cards.
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
Inability to move past Rs194 there are chances of recovery upticks. A direct drop of which may see further liquidation pressure.
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