Commodity Intraday Technical Outlook 23 October 2023 - Geojit Financial Services Ltd
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GoldLBMA Spot
As it unable to break the resistance of $2000 expect corrective selling pressure for the day. Anyhow it is unlikely to break the support of $1935.
Silver LBMA Spot
Break above $23.80 is needed to extend rallies. Else, corrective selloffs are on the cards for the day.
Crude Oil NYMEX
Intraday bias mostly on the weaker side while prices stay below $90. Anyhow stiff support is placed at $83.
Gold KG Dec
Choppy with corrective selloffs are likely as long as Rs 61000 caps upside.
Silver KG Dec
Immediate resistance of Rs 73800 needs to be cleared for extend rallies. Else expect weakness for the day.
Crude Oil Nov
Consistent trades above Rs 7500 is needed to extend rallies. Else, corrective selloffs expected the day.
Natural Gas Oct
Weak bias likely to extend initially. A direct turn above Rs 248 could negate the view.
Copper Oct
Further selloffs are seen only below Rs 695. Else mild upticks are on the cards.
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
A direct drop below Rs 220 would extend weak bias. Else, a mild recovery bias expected the day
Lead Oct
Consistent trades below Rs 184 is a sign of weakness. If not, expect recovery rallies
Aluminium Oct
Inability to break above Rs 203 there are potential
selling pressure for the day. Consistent rise above it
would negate the view.
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