Commodity Intraday Technical Outlook 26 October 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Recovery pullbacks are expected initially. Anyhow break above $2000 is needed to trigger fresh rallies.
Silver LBMA Spot
Fit the support of $22.50 holds, expect recovery upticks. A direct dip below would see extension of liquidation pressure.
Crude Oil NYMEX
Expect a choppy trade inside $87-82 levels initially and breaking any of the sides would suggest fresh directional moves.
Gold KG Dec
If unable to move past Rs 60000 expect rallies to continue the day.
Silver KG Dec
Further rallies are seen only a break of Rs 73800. If unable to do so may see corrective selling pressure.
Crude Oil Nov
Break below Rs 6800 would liquidate prices further. Else, choppy with recovery bias expected the day.
Natural Gas Nov
Break above the resistance of Rs 255 is required to trigger rallies. If not expect corrective selloffs for the day
Copper Oct
Stiff resistance is seen at Rs 710 if unable to cross the same would see selling pressure.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
Expect a turn around in prices if the support of Rs 219 remain restrict further downside.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
As long as the support of Rs 203 remain hold downside, there are chances of recovery rallies. Else, weak bias would persist in the counter.
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