Commodity Intraday Technical Outlook 31 October 2022 - Geojit Financial Services
Intraday Technical Outlook
Gold LBMA Spot
Choppy trading remains on the cards initially. A direct drop below $1620 prices would liquidate further.
Silver LBMA Spot
Prices likely to be congested inside $20.10-18.20 levels initially and breaking any of the sides would suggest fresh directional moves for the day.
Crude Oil NYMEX
If unable to break below $84 there are chances of recovery upticks. A direct dip below $81.50 is a sign of further weakness.
Gold KG Dec
Break above Rs 51500 would continue rallies. Inability to move past the same expect choppy with mild negative bias.
Silver KG Dec
Rallies expected only a break of Rs 58800. Inability to do so, there are chance of corrective selling pressure.
Crude Oil Nov
If unable to break the support of Rs 7050 there ae chance of upticks to continue the day. A direct break of which would trigger selling pressure.
Natural Gas Nov
Expect upticks to continue while the support of Rs 490 remains undisturbed. If unable to do so may see corrective selling pressure.
Copper Nov
Prices remain congested inside Rs 670-635 levels and breaking any of the sides would suggest fresh directional move for the day.
Nickel Nov
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Nov
As long as prices stay below Rs 265 expect weak to continue the day. A direct turn above Rs 272 is a sing of recovery rallies.
Lead Nov
It required to break above Rs 183 to continue rallies. Inability to do so may see corrective selling pressure.
Aluminium Nov
A direct dip below Rs 195 is a sign of further weakness. If unable to do so may see recovery upturn for the day.
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