Commodity Intraday Technical Outlook 30 October 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
As prices cleared the stiff resistance of $2000 there ae chances to continue upticks. Meanwhile, unexpected drop below $1935 could negate the view.
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
Likely for a choppy trade inside $87-82 levels initially and breaking any of the sides would suggest fresh directional moves.
Gold KG Dec
Upticks would continue while prices stay above Rs 61000. Consistent trades below Rs 59500 could negate the view.
Silver KG Dec
Further rallies are seen only a break of Rs 73800. If unable to do so may choppy trading session for the day.
Crude Oil Nov
Choppy with corrective dips expected initially. However it needs to break Rs 7100 to extend the momentum.
Natural Gas Nov
Consistent trades above Rs 300 would extend rallies. Else, choppy with corrective selloffs are likely for the day
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
There are chances of recovery upticks 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
Inability to move past Rs 203 recovery upticks are expected the day. Unexpected drop of which would liquidate prices further.
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