Commodity Intraday Technical Outlook 11 September 2023 - Geojit Financial Services
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Gold LBMA Spot
A mild recovery uptick expected as long as prices stay above $1920 downside. However major rallies are seen only above $1955.
Silver LBMA Spot
If unable to break the support to $22 expect recovery upticks. An unexpected drop of which would trigger selling pressure.
Crude Oil NYMEX
Further rallies are seen only above the immediate resistance of $88. Else, choppy with mild corrective selling pressure is expected.
Gold KG Oct
Expect a congested trade inside Rs 59500-58400 levels initially and breaking any of the sides would suggest fresh directional moves.
Silver KG Sep
If unable to move past the support of Rs 71000 intraday momentum mostly on the upper side. Major liquidation is seen only below Rs 69200.
Crude Oil Sep
Break above Rs 7300 would extend rallies. Else, choppy with corrective selloffs are seen today.
Natural Gas Sep
If the resistance of Rs 220 remain restrict upside, expect selling pressure for the day. A direct rise above the same would negate the view.
Copper Sep
While below Rs 725 weak bias remains on the cards. A direct rise above Rs 742 is a bullish trigger.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
Consistent trades below Rs 218 would weaken the sentiments. Further rallies are seen only above Rs 222.
Lead Sep
Prices remain rangebound inside Rs 189-186 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Sep
Intraday trade mostly inside Rs 198-201 levels. Any of the sides breakout would suggest short term directional moves.
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