Commodity Intraday Technical Outlook 12 September 2023 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks expected as long as prices stay above $1920. However major rallies are seen only above $1955.
Silver LBMA Spot
Inability to move past $22 expect recovery rallies for the day. An unexpected drop of which would trigger selling pressure.
Crude Oil NYMEX
Break above $88 is needed to trigger further rallies. Else, choppy with mild corrective selling pressure is expected the day.
Gold KG Oct
Prices remain congested trade inside Rs 59500-
58400 levels and breaking any of the sides would
suggest fresh directional moves.
Silver KG Sep
As long as Rs 71000 remain hold downside, 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
Immediate resistance is seen at Rs 220, which if holds expect recovery upmoves. Else, choppy with negative momentum is on the cards.
Copper Sep
If the support of Rs 725 remains holds, expect recovery upticks. A direct drop below the same is a
weak sign for short term.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
Mild upticks expected while prices consistent above
Rs 218. If not, expect weakness for the day.
Lead Sep
Expect choppy trade inside Rs 189-186 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Sep
While prices stay above Rs 200 recovery momentum is on the cards. A direct drop below Rs 198 is a sing of further weakness.
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