Commodity Intraday Technical Outlook 27 September 2022 - Geojit Financial Services
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Intraday Technical Outlook
Gold LBMA Spot
Important support of $1600 needs to be cleared for to continue selling pressure in the counter. Else, there are chances of recovery upticks for the day.
Silver LBMA Spot
Expect choppy with mild recovery upticks initially. However it needs to break above $20 to trigger fresh rallies.
Crude Oil NYMEX
Though major trend remains on the weaker side, an initial pullback cannot be ruled out as long as the support of $76 hold the downside.
Gold KG Oct
Consistent trades below Rs 49000 would trigger further liquidation in prices. Inability to do so expect mild pullback rallies for the day
Silver KG Dec
Intraday outlook remains choppy initially. However, breaking either sides of Rs 57600-54800 is needed to set a directional move for the day.
Crude Oil Oct
While prices stay below Rs 6500 expect weak bias to continue the day. A direct rise above Rs 6950 is a sign of reversa
Natural Gas Sep
A mild recovery uptick can be seen as long as the support of Rs 540 remains undisturbed. A direct drop below Rs 530 is a sign of major liquidation.
Copper Oct
Choppy with negative bias trading is on the cards as long as prices stay below Rs 632. Major resistance is seen at Rs 650.
Nickel Oct
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Oct
Liquidation pressure may continue as long as prices stay below Rs 270. Consistent trades above Rs 274 may negate the sentiment.
Lead Oct
Downside moves may continue while the immediate resistance of Rs 174 continue to cap upside. Important support is seen at Rs 170.
Aluminium Oct
If the support of Rs 190 hold downside, expect a mild recovery upticks initially. A direct drop of which would continue selling pressure in near future.
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