Commodity Intraday Technical Outlook 19 October 2023 - Geojit Financial Services Ltd
Gold LBMA Spot
While above the resistance of $1935 it may extend rallies. Else, choppy with corrective selloffs expected the day.
Silver LBMA Spot
Intraday momentum remains choppy with mild positive as long as it stays above $22. A direct drop of which would weaken the sentiments.
Crude Oil NYMEX
As long as price stay above $88 it may continue with positive bias. A direct drop below $83 is a weak sign.
Gold KG Dec
Upticks may extend as long as the prices stay above Rs 58200. 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
Upticks would continue while the support of Rs 7200 hold downside. A direct dip below Rs 7150 is an immediate sign of weakness.
Natural Gas Oct
Support of Rs 255 if remains holds expect recovery upticks. A direct drop of which would liquidate prices further.
Copper Oct
Further selloffs are seen only below Rs 695. Else mild upticks are on the cards.
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
Consistent trades below Rs 184 is a sign of weakness. If not, expect recovery rallies.
Aluminium Oct
Break below the stiff support of Rs 200 would extend weakness. Else, recovery upticks are on the
cards.
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