Commodity Intraday Technical Outlook 16 October 2024 - Geojit Financial Services Ltd
Gold LBMA Spot
If unable to move past $2685 there are chances of corrective selling pressure for the day. Else, recovery upticks are on the cards.
Silver LBMA Spot
Prices remains choppy for the day. Anyhow major selloffs expected only below $30.
Crude Oil NYMEX
Intraday momentum remains on the weaker side as long as prices stay below $72.
Gold KG Oct
A direct rise above Rs 76500 would extend rallies. If not may see choppy trading session for the day.
Silver KG Dec
Break above Rs 92000 intraday bias mostly mild positive. Stiff support is placed at Rs 88000.
Crude Oil Oct
Weakness likely to extend as long as prices stay below Rs 6000.
Natural Gas Oct
Choppy trades largely expected, anyhow major upside turnaround point is placed at Rs 220.
Copper Oct
While below Rs 820 there are chances of extending weak bias for the day.
Nickel Oct
Nil volume trades expected. ZincM Oct Further weakness seen only below Rs 275. If not may see recovery rallies.
LeadM Oct
Further rise in prices can seen only above Rs 184. Inability to cross it expect mild selling pressure.
AluminiumM Oct
Choppy trades inside Rs 230-238 expected the day.
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