Commodity Intraday Technical Outlook 7 October 2022 - Geojit Financial Services
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Gold LBMA Spot
Recovery upticks may extend initially. A direct drop below $1690 would negate the view and trigger selling pressure.
Silver LBMA Spot
If the support of $19.50 remains holds, expect buying interest for the day. A direct drop below $18 is a sign of liquidation pressure.
Crude Oil NYMEX
Upticks likely to continue as long as the support of $83 remain undisturbed. A direct drop of which is a sign of reversal.
Gold KG Dec
Rallies likely to continue while the support of Rs 51200 remains undisturbed. An unexpected fall below Rs 49800 is a sign of weakness.
Silver KG Dec
Prices needs to break above Rs 62000 to continue further rallies. Else, there are changes of corrective selling pressure for the day.
Crude Oil Oct
Buying interest may continue if the support of Rs 68800 hold the downside. A direct drop below Rs 6700 would trigger selling pressure.
Natural Gas Oct
Prices needs to break and sustain above Rs 588 to trigger rallies. Else, there are chances of selling pressure for the day.
Copper Oct
Choppy trading inside Rs 680-640 is expected initially and breaking any of the sides would suggest fresh directional moves for the day.
Nickel Oct
Volume less trades inside Rs 1720-2250 levels likely to continue in near future.
Zinc Oct
Bullish bias expected to continue as prices cleared above the resistance of Rs 280. A direct drop below Rs 276 is a weak signal.
Lead Oct
Consistent trades above Rs 184 to trigger rallies. Else, choppy with mild selling pressure in on the cards for the day.
Aluminium Oct
As long as the support of Rs 205 remains undisturbed expected recovery upticks to continue the day. A close below Rs 200 would trigger major selling pressure.
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