Commodity Intraday Technical Outlook 10 October 2023 - Geojit Financial Services
Gold LBMA Spot
Likely to extend pullback rallies as long as $1820 remain undisturbed.
Silver LBMA Spot
Consistent trades above $22 is a sign of strong recovery rallies. If not, expect choppy trading session for the day.
Crude Oil NYMEX
Break above the stiff resistance of $88 would extend rallies. Else, corrective selling is on the cards.
Gold KG Dec
Recovery rallies would see as long as the support of Rs 55800 hold downside. A direct break of which would extend weakness.
Silver KG Dec
While prices stay above Rs 68000 there are chances of upticks to continue in the counter. A direct drop below Rs 65000 is a sign of weakness.
Crude Oil Oct
Choppy with mild positive bias expected initially. Meanwhile, an unexpected drop below 6900 would weaken the sentiments.
Natural Gas Oct
Intraday momentum mostly on the positive side as long as the support Rs 262 hold downside.
Copper Oct
A direct break of Rs 695 would see weak bias to extend the day. Else, recovery rallies are possible in the counter.
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
Intraday bias mostly on the positive side as long as it stays above Rs 225. Unexpected drop below Rs 221 is a sign of weakness.
Lead Oct
Break below the support of Rs 185 would see further weakness. Else, prices remains choppy for the day.
Aluminium Oct
Expect a congested trade inside Rs 206-203 levels
initially and breaking any of the sides would suggest
fresh directional moves.
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