Commodity Intraday Technical Outlook 17 October 2023 - Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Gold LBMA Spot
Break above the immediate resistance of $1935 would extend rallies. Else, choppy with corrective selloffs expected the day.
Silver LBMA Spot
Consistent trades above $22 likely to continue the buying momentum. Else, choppy trading is expected the day.
Crude Oil NYMEX
Chances for initial correction if prices are unable to move past $88. An unexpected rise above the same would extend buying pressure.
Gold KG Dec
Upticks may extend as long as the prices stay above Rs 57500. Consistent trades below Rs 56500 is a sign of weakness.
Silver KG Dec
Prices needs to break the support of Rs 68000 to trigger weakness. Else, recovery rallies are on the cards.
Crude Oil Oct
Expect a range bound trade inside Rs 7400-7150 levels initially and breaking any of the sides would suggest fresh directional moves.
Natural Gas Oct
If unable to move past Rs 272 intraday bias mostly on the weaker side. A direct surge above the same would extend rallies.
Copper Oct
Expect a tight trade inside Rs 715-698 levels and breaking any of the sides would suggest fresh directional moves. .
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
A direct drop below Rs 220 would extend weak bias. Else, a mild recovery bias expected the day.
Lead Oct
Prices remain congested inside Rs 185-189 levels and breaking any of the sides would suggest fresh directional moves.
Aluminium Oct
Choppy with mild weakness would continue as long as prices are unable to clear above Rs 205.
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
