Commodity Intraday Technical Outlook 14 September 2023 - Geojit Financial Services
Gold LBMA Spot
Intraday trend remains choppy with mild negative bias. But if it sustains above $1920 there ae chances of mild recovery.
Silver LBMA Spot
While below $23.40 outlook remains on the weaker side. Unexpected rise above the same would strengthen buying pressure.
Crude Oil NYMEX
Range bound trades expected but break above $88 would extend rallies. Major weakness is seen only below $86.
Gold KG Oct
While prices stay below Rs 59200 weak bias expected the day. Otherwise recovery rallies are in the cards.
Silver KG Sep
Immediate support is at Rs 71000 which needs to be cleared for extending weakness. A direct rise above Rs 72800 is a sign of recovery.
Crude Oil Sep
While above Rs 7300 major selloffs are unlikely for the day. However, stiff support is placed at Rs 7080.
Natural Gas Sep
Expect a tight range trade inside Rs 220-230 levels initially and breaking any of the sides would suggest fresh directional moves.
Copper Sep
As long as 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
As long as prices stay above Rs 218 rallies would extend the day. Inability to so may see corrective selling pressure.
Lead Sep
While above Rs 186 it may hold mild positive bias for the day. However, stiff resistance is seen at Rs 189.
Aluminium Sep
Mild upticks expected if prices are unable to cross below Rs 200. A close below Rs 197 is a short term weak signal.
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