Commodity Intraday Technical Outlook 16 November 2023 - Geojit Financial Services Ltd
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LBMA Spot
Expect to trade in the range of $2000-1930 levels and breaking any of the sides would suggest fresh directional moves.
Silver LBMA Spot
Break above the stiff resistance of $23.80 would extend rallies. Else choppy trades expected the day.
Crude Oil NYMEX
Outlook remains on the weaker side but consistent trades above the resistance of $78 would see recovery rallies.
Gold KG Dec
A mild recovery can be seen as long as the support of Rs 59800 remains hold downside.
Silver KG Dec
Expect recovery upticks if prices stay Rs 72000. A direct dip below Rs 70800 is a weak sign.
Crude Oil Nov
While prices stay below Rs 6450 would continue bias for the day.
Natural Gas Nov
As long as prices stay above Rs 268 likely to extend rallies. If not, choppy with corrective selloffs are likely for the day.
Copper Nov
Consistent trades below Rs 705 would extend weakness. If not recovery rallies are on the cards.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
If unable to move past Rs 224 there are potential upside. A direct fall of which could negate the view.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
Prices remain congested inside Rs 207-204 levels and either side breakout would suggest fresh directional moves.
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