Commodity Intraday Technical Outlook 28 September 2023 - Geojit Financial Services
Gold LBMA Spot
As prices cleared the stiff support of $1880 it may extend liquidation pressure. Immediate upside reversal point is placed at $1920.
Silver LBMA Spot
Break below the immediate support of $22 would trigger further liquidation pressure. Else, choppy trades expected the day.
Crude Oil NYMEX
Bullish outlook remain intact as long as prices stay above $94. A close below $88 is a sign of downside correction.
Gold KG Oct
While below Rs 58200 would extend liquidation pressure. Consistent trades above Rs 59000 could lift prices higher.
Silver KG Sep
Choppy with negative bias trading expected as long as prices stay below $71500. Stiff upside obstacle is placed at Rs 73800.
Crude Oil Oct
Intraday outlook remain on the bullish side and would extend rallies. Consistent trades below Rs 7550 would see weakness in the momentum.
Natural Gas Oct
A direct rise above Rs 245 would see further rise in prices. Else, choppy trades expected the day.
Copper Oct
While prices stay below the support of Rs 710 may extend weakness. Else choppy trades remains on the cards.
Nickel Oct
Expect choppy with thin volume trading in the near future.
Zinc Oct
Choppy with mild negative bias trading expected as long as prices stay below Rs 227.
Lead Oct
Further rallies are seen only a break above Rs 191. Inability to do so may see weak bias for the day.
Aluminium Oct
Intraday outlook remain choppy inside Rs 206-202 levels and breaking any of the sides would suggest fresh directional moves.
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