Commodity Intraday Technical Outlook 15 September 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy trades remains on the cards for the day initially. It is required to sustains above $1920 to trigger recovery rallies.
Silver LBMA Spot
If prices sustains below $23.40 outlook remains on the weaker side. Unexpected rise above the same would strengthen buying pressure.
Crude Oil NYMEX
Positive bias expected to continue the day as well. Major weakness is seen only below $86.
Gold KG Oct
As long as prices stay below Rs 59200 weak bias expected the day. Otherwise recovery rallies are in the cards.
Silver KG Sep
Choppy with mild negative bias is likely. A direct rise above Rs 72800 is a sign of recovery.
Crude Oil Sep
As long as Rs 7300 hold downside, expect recovery rallies to continue the day. However, stiff support is placed at Rs 7080.
Natural Gas Sep
Prices likely to held inside Rs 220-230 levels initially and breaking any of the sides would suggest fresh directional moves.
Copper Sep
Upticks to continue while the support of Rs 725 remains hold downside. Unexpected drop below would weaken the momentum.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
While 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
Upticks would continue as long as the support of Rs 200 hold downside. A close below Rs 197 is a short term weak signal.
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