Commodity Intraday Technical Outlook 29 September 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain under pressure as long as it stays below $1880. It needs to close above $1920 to strengthen upside momentum.
Silver LBMA Spot
Further selloffs are seen only below $22. Inability to
do so may see recovery upticks.
Crude Oil NYMEX
Bullish outlook remain intact as long as the support of $88 undisturbed. Consistent trades below the same would tigger liquidation pressure.
Gold KG Oct
Weak bias may extend while prices stay below Rs 58000. Consistent trades above Rs 58500 would trigger rallies.
Silver KG Sep
Further selloffs seen only below Rs 70000. Else, a mild recovery in prices can be seen today.
Crude Oil Oct
While prices stay above Rs 7600 it may continue the bullish momentum. A direct drop below Rs 7200 would weaken the sentiments.
Natural Gas Oct
Corrective selloffs expected only a drop below Rs 238. Otherwise there are chances of continuation of upticks.
Copper Oct
Further selloffs are seen only below Rs 710. Inability to move past the same would trigger recovery rallies.
Nickel Oct
Expect choppy with thin volume trading in the near
future.
Zinc Oct
As prices stay above Rs 225 intraday momentum
mostly on the positive side. Further liquidation is
seen only below Rs 220.
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
As long as prices stay above Rs 206 there are chance
so recovery upticks. A direct drop of which would
see liquidation pressure.
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