Commodity Intraday Technical Outlook 20 September 2023 - Geojit Financial Services
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Gold LBMA Spot
Recovery upticks may continue which prices stay above $1920. A direct drop below $1900 would further weaken the sentiments.
Silver LBMA Spot
Break above the immediate resistance of $23.40 would extend rallies. Else, a choppy trading is likely for the day.
Crude Oil NYMEX
Consistent trades above $92 would extend rallies. Else, corrective dips expected the day.
Gold KG Oct
It is required to break the support of Rs 58200 to trigger selling pressure. Otherwise prices remains range bound.
Silver KG Sep
Resistance above Rs 73000 it may extend recovery upticks. Else, corrective selloffs are on the cards for the day.
Crude Oil Sep
Though initial correction expected, intraday outlook remains on the positive side. Consistent trades below Rs 7500 is an early sign of weakness.
Natural Gas Sep
If prices stay above Rs 230 upticks would continue. Unexpected drop below Rs 220 would weaken the outlook.
Copper Sep
Mild upside is on the cards while the support of Rs 725 remains hold downside. Unexpected drop below would weaken the momentum.
Nickel Sep
Expect choppy with thin volume trading in the near future.
Zinc Sep
Recovery rallies may continue as long as the support of Rs 222 remains undisturbed. Unexpected drop of which would weaken the sentiments.
Lead Sep
While above Rs 186 it may hold mild positive bias for the day. However, stiff resistance is seen at Rs 189.
Aluminium Sep
As long as the support of Rs 200 remains undisturbed, expect recovery upticks. Consistency below Rs 196 is a weak sign.
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