Commodity Intraday Technical Outlook 2 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Choppy trading expected the day. If prices stabilize above $2000 would extend the bullish momentum.
Silver LBMA Spot
Mild selling pressure may see initially. However, if it holds $22.50 there are chances of recovery upticks later.
Crude Oil NYMEX
While above $80 intraday momentum mostly choppy with recovery bias
Gold KG Dec
If prices stay below Rs 61000 weak momentum likely to continue the day. Further rallies are seen only above Rs 62500.
Silver KG Dec
Major rallies are seen only a break of Rs 73800. If unable to do so may see corrective selling pressure for the day.
Crude Oil Nov
As prices cleared the support of Rs 6800 would extend weak momentum. Else, recovery rallies are on the cards.
Natural Gas Nov
Recovery pullback likely to continue the day. Further weakness is seen only below Rs 278.
Copper Nov
Consistent trades above Rs 710 would extend rallies. Else, choppy trading session is on the cards.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
Recovery pullbacks are likely as long as the support of Rs 219 remain restrict further downside.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
Upticks would continue while the support of Rs 204 remain hold downside. A direct drop of which would liquidate prices further
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