Commodity Intraday Technical Outlook 13 October 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy with mild recovery bias would continue while prices say above $1820. Further selloffs are seen only a break of the same.
Silver LBMA Spot
Consistent trades above $22 would extend buying momentum. Else, choppy trading is expected the day.
Crude Oil NYMEX
A direct break of $82 would trigger selling pressure. If not, expect a mild turnaround in prices today.
Gold KG Dec
Consistent trades above Rs 58000 would extend recovery rallies. Inability to do so may see corrective selloffs.
Silver KG Dec
Immediate resistance of Rs 70000 needs to be cleared for rallies. Else, weakness is expected the day.
Crude Oil Oct
As long as the support of Rs 6800 hold downside, expect recovery pullbacks. A direct dip below would trigger further weakness.
Natural Gas Oct
Choppy with mild positive bias expected initially. However it needs to clear Rs 288 to trigger major rallies.
Copper Oct
If prices sustain below Rs 700 there are chance of continuation of weak bias. However, major upside obstacle is placed at Rs 715.
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
A direct drop below Rs 220 would extend weak bias. Else, a mild recovery bias expected the day.
Lead Oct
Break below Rs 185 is sign of weakness. If unable to break the same would see recovery upticks.
Aluminium Oct
If unable to move past Rs 203 there are chances of recovery upticks. A direct drop of which would liquidate prices further.
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