Commodity Intraday Technical Outlook 22 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Upticks possibly to continue initially. However breaking the stiff resistance of $2020 is required to trigger major rallies.
Silver LBMA Spot
Break above $24.20 would extend rallies. Else, choppy with corrective selloffs expected the day.
Crude Oil NYMEX
If unable to constantly trade above $78 there are potential down side. Otherwise it may continue upticks.
Gold KG Dec
Break above the immediate resistance of Rs 61000 is needed to extend rallies. Else, corrective selloffs are on the cards.
Silver KG Dec
Intraday bias mostly on the weaker side as prices stay below Rs 73800. Further rallies are seen only above Rs 74200.
Crude Oil Dec
Immediate resistance above Rs 6600 would extend rallies. Else, choppy with corrective selloffs are likely for the day.
Natural Gas Nov
If unable to trade consistently above Rs 245 expect selling pressure to continue the day.
Copper Nov
Consistent trades above Rs 718 would trigger rallies. Else, corrective selloffs expected.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
Stiff resistance of Rs 228 is needed to be cleared for extending rallies. Otherwise choppy trades expected.
Lead Nov
While above Rs 186 it may hold mild positive bias for the day. However, stiff resistance is seen at Rs 189.
Aluminium Nov
Prices most likely choppy inside Rs 203-207 levels and either side breakout would suggest fresh short term direction.
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