Intraday Technical Outlook 7 October 2021 - Geojit Financial
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Gold LBMA Spot
Choppy trading remains on the cards initially, but there are potential upside as long as it stays above $1760.
Silver LBMA Spot
Inability to move past $23.10 expect weak bias to continue the day. Else, recovery rallies are possible.
Crude Oil NYMEX
Bullish rallies to continue while prices stay above $75. Immediate reversal point is placed at $73.
Gold KG Oct
Prices continue to be choppy initially, but consistent trades above 46200 there are chances of recovery upticks.
Silver KG Dec
Recovery rallies likely as long as 60,000 hold the downside. A direct drop below 58000 is a weak signal.
Crude Oil Oct
Bullish rallies would continue as long as the support of 5600 remain undisturbed.
Natural Gas Oct
Extreme choppy trades are likely inside 452-404 levels and breaking any of the sides would set short term direction.
Copper Oct
Range bound with weak bias inside 692-720 levels are expected initially. Either side breakout would suggest fresh short term direction.
Nickel Oct
A direct lift above 1418 may extend rallies. Else, there are chances of corrective selling for the day.
Zinc Oct
If the support of 255 hold, expect rallies for the day. Else weak bias are in cards.
Lead Oct
Corrective selloffs may continue while pries prices are unable to move past 184. Major support is seen at 178.
Aluminium Oct
A direct break above 235 would extend rallies. Else there are chances of choppy trading for the day.
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