Commodity Intraday Technical Outlook 27 October 2023 - Geojit Financial Services Ltd
Gold LBMA Spot
Prices remains choppy initially. Anyhow, break above $2000 is needed to trigger fresh rallies
Silver LBMA Spot
If the support of $22.50 holds, expect recovery upticks. A direct dip below would see extension of liquidation pressure.
Crude Oil NYMEX
Prices remains range bound inside $87-82 levels initially and breaking any of the sides would suggest fresh directional move
Gold KG Dec
As long as the support of Rs 60000 holds, expect mild recovery upticks for 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
Stiff support is placed at Rs 6800 which if cleared would extend liquidation pressure. Else, recovery upticks are on the cards.
Natural Gas Nov
Recovery upticks would continue as long as prices stay above Rs 255. Unexpected drop below Rs 248 is a sign of weakness.
Copper Nov
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
Prices remains range bound in a tight range. Anyhow break below Rs 203 would extend liquidation.
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