Commodity Intraday Technical Outlook 05 October 2023 - Geojit Financial Services
Gold LBMA
A mild turnaround in prices can be seen if $1810 remains holds downside. A direct drop below would liquidate prices further.
Silver LBMA
Further selloffs are see only below $20.50. If unable to move past the same may see recovery upticks.
Crude Oil NYMEX
Break below the immediate support of $84 would extend weakness. Else, mild recovery bias expected.
Gold KG Dec
Immediate support is seen at Rs 56500 which needs
to be cleared for continuation of liquidation. If not
expect recovery rallies.
Silver KG Dec
Prices needs to break the support of Rs 66000 to
continue weakness. Else, recovery rallies are on the
cards.
Crude Oil Oct
While prices stay below Rs 7300 weak momentum to
continue the day. Consistent trades above the same
would negate the view.
Natural Gas Oct
Upticks may extend while the support of Rs 245 remains holds downside. Unexpected drop below it
could negate the view.
Copper Oct
Bearish outlook remain intact as long as prices stay
below Rs 706. A direct turn above the same is a sign
of recovery rallies.
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
Expect a tight trade inside Rs 225-221 levels and breaking any of the sides would required to trigger fresh directional moves.
Lead Oct
Prices remains choppy inside Rs 185-189 levels and
breaking any of the sides would suggest fresh directional moves
Aluminium Oct
If unable to move past Rs 205 there are potential
upside. Stable trades below the same would extend
selloffs.
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