Commodity Intraday Technical Outlook 21 September 2023 - Geojit Financial Services
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Gold LBMA Spot
Choppy trades expected initially. Consistent trades above $1940 would lift prices higher.
Silver LBMA Spot
Intraday bias most on the weaker side as long as prices stay below $23.50. Unexpected rise above the same would negate the view.
Crude Oil NYMEX
If unable to move past $90 there are potential down side. Otherwise it may continue upticks.
Gold KG Oct
Break above the immediate resistance of Rs 58600 is needed to extend rallies. Else, corrective selloffs are on the cards.
Silver KG Sep
Intraday bias mostly on the weaker side as prices stay below Rs 72500. Further rallies are seen only above Rs 73500.
Crude Oil Sep
Corrective selling pressure is likely if prices stay below Rs 7300. Stiff upside obstacle is seen at Rs 7650.
Natural Gas Sep
If unable to trade consistently above Rs 230 there are selling pressure to continue the day. Major upside barrier is placed at Rs 238.
Copper Sep
Choppy with 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
If the support of Rs 220 remain undisturbed expected recovery rallies to continue the day. Unexpected drop below it would trigger weakness.
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
Stiff resistance is placed at Rs 205 which needs to be cleared for extend rallies. Else, corrective selling pressure is on the cards.
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