Commodity Intraday Technical Outlook 17 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Break above $1990 would extend rallies. Else, choppy with mild corrective selloffs expected the day.
Silver LBMA Spot
Upticks likely to extend as long as it stays above $23.80. inability to stay above the same would see choppy trades for the day.
Crude Oil NYMEX
Immediate and stiff support is placed at $72, which needs to be cleared for further liquidation in prices.
Gold KG Dec
Rallies would extend as long as prices stay above Rs 60500. Further liquidation is seen only below Rs 59500.
Silver KG Dec
Intraday resistance is placed at Rs 73800 which needs to be cleared for extending rallies. Else, corrective selloffs expected the day.
Crude Oil Nov
Consistent trades below Rs 6000 would extend liquidation pressure. Eles, a mild recovery rallies is on the cards.
Natural Gas Nov
Prices most likely congested inside Rs 272-252 levels and breaking any of the sides would suggest fresh directions.
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
Consistent trades above Rs 230 would extend rallies. Else, corrective selloffs are likely for the day.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
Expect a range bound trade inside Rs 207-204 levels initially and either side breakout would suggest fresh directions
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