Commodity Intraday Technical Outlook 20 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Consistent trades above $1990 would extend rallies. Else, choppy with mild corrective selloffs expected the day.
Silver LBMA Spot
Immediate upside obstacle is placed at $24.10 which needs to be cleared for extending rallies.
Crude Oil NYMEX
Recovery upticks likely to extend as long as prices stay above $74. A direct drop below $72 is a sign of weakness.
Gold KG Dec
Recovery upticks may extend as long as prices stay above Rs 60500. Further liquidation is seen only below Rs 59500.
Silver KG Dec
A direct break above Rs 73800 is required to extend rallies. Else, corrective selloffs are likely for the day.
Crude Oil Dec
As long as Rs 6200 remain undisturbed expect recovery upticks. Else it may continue weakness.
Natural Gas Nov
Stiff support is placed at Rs 238, break of which would extend weakness. Else, recovery rallies are possible.
Copper Nov
Break above Rs 716 would extend rallies. Else, choppy with corrective selloffs expected the day.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
If the support of Rs 224 remain holds there are chances of recovery rallies. Else, weakness may continue the day.
Lead Nov
Immediate resistance is placed at Rs 194 which if broken would extend rallies.
Aluminium Nov
Choppy with mild negative bias expected initially. However, a direct rise above Rs 207 could negate the view.
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