Commodity Intraday Technical Outlook 28 September 2022 - Geojit Financial Services
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
Weak bias to continue the day initially. It needs to break above $20 to turn prices higher.
Crude Oil NYMEX
A direct break of the support of $76 would extend weak sentiment. Else, there are chances of recovery upticks.
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
A direct break below the support of Rs 54800 would trigger further selloffs for the day. Else, there are chances of recovery rallies.
Crude Oil Oct
Prices remains under weak sentiments as long as its stays below Rs 6500. Break above Rs 6800 is a upside turnaround signal.
Natural Gas Sep
Expect a range bound trade inside Rs 560-530 levels initially and breaking ether side would suggest fresh directional move for the day.
Copper Oct
Mild negative bias likely to continue while 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
While prices stay below Rs 174 weak bias to continue the day. Major upside turnaround point is seen at Rs 178.
Aluminium Oct
As prices cleared the support of Rs 190 expect selling pressure to continue the day. Further rallies are expected only a break above Rs 194.
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