Commodity Intraday Technical Outlook 28 November 2022 - Geojit Financial Services
Gold LBMA Spot
Corrective selling pressure is likely as long as the resistance of $1762 caps the upside. However intraday support is seen at $1720.
Silver LBMA Spot
Further upticks are seen only a break above $22. Inability to break the same would see corrective selling pressure for the day.
Crude Oil NYMEX
As prices cleared the stiff support of $76 there are chances of liquidation pressure to continue the day. Recovery upticks are expected only a consistent trades above $78.
Gold KG Dec
Inability to break above Rs 53000 liquidation pressure would continue the day. A direct rise above the same is a sign of reversal.
Silver KG Dec
Weak bias expected initially as long as prices stay below the support of Rs 62800. Upside turnaround point is placed at Rs 64500.
Crude Oil Dec
While prices stay below Rs 6200 would extend liquidation pressure for the day. Further rallies are seen only above Rs 6400.
Natural Gas Dec
If Rs 590 remains caps the upside, expect selling pressure to continue the day. However, major support is seen at Rs 535.
Copper Dec
Inability to Rs 682 there are chances of corrective selling pressure to continue the day. A direct rise above would lift prices further higher.
Nickel Dec
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Dec
It is required to break the support of Rs 262 to extend liquidation. Else, there are chances of recovery upticks.
Lead Dec
A direct break below Rs 184 likely to extend liquidate prices. Inability to do so may see recovery upticks for the day.
Aluminium Dec
Inability to move past Rs 210 there are chances of corrective selling pressure. A direct rise above the same is a sign of recovery upticks.
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