Commodity Intraday Technical Outlook 23 November 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery bias is on the cards as long as the support of $1730 hold the downside. A direct drop below $1680 would trigger major liquidation pressure.
Silver LBMA Spot
Expect a choppy trading initially. However, if prices are unable to break the support of $20.20 there are chances of recovery upticks.
Crude Oil NYMEX
Consistent trades below $76 is a sign of major liquidation pressure. Inability to do so would continue recovery rallies for the day.
Gold KG Dec
Choppy with mild recovery expected initially. A direct rise above Rs 53000 would trigger major rallies.
Silver KG Dec
Congested trade inside Rs 63000-59800 levels expected initially. Any of the sides breakout would suggest fresh short term directions.
Crude Oil Nov
A direct break of Rs 6200 would continue liquidation pressure. Else, there are chances of recovery upticks.
Natural Gas Nov
While prices stay above Rs 540 expect rallies would extend the day. Otherwise, intraday bias most likely to be choppy.
Copper Nov
Recovery upticks may continue while the support of Rs 660 hold the downside. A direct fall below would extend liquidation pressure.
Nickel Nov
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Nov
It is required to break the support of Rs 255 to extend liquidation. Else, there are chances of recovery upticks.
Lead Nov
A direct break below Rs 180 would liquidate prices further. Inability to do so may see recovery upticks for the day.
Aluminium Nov
As long as the support of Rs 202 hold the downside, expect recovery upticks. A direct drop of which would liquidate prices further.
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