Commodity Intraday Technical Outlook 6 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Prices remain rangebound possibly inside $2000- 1930 levels and breaking any of the sides would suggest fresh directional moves.
Silver LBMA Spot
Consistent trades above $23.80 would trigger further rallies. Else, corrective selling pressure is expected the day.
Crude Oil NYMEX
A direct break below $80 there are more possibilities of further selling pressure. If not expect a mild turnaround today.
Gold KG Dec
Break above Rs 61500 would continue rallies. Else, choppy trading expected the day.
Silver KG Dec
Major rallies are seen only a break of Rs 73800. If unable to do so may see corrective selling pressure for the day.
Crude Oil Nov
While prices stay below Rs 6700 would extend weakness. Else, recovery rallies are possible the day.
Natural Gas Nov
Intraday weakness is seen only below Rs 284. If not able the break it expect recovery upticks.
Copper Nov
Consistent trades above Rs 710 would extend rallies. Else, choppy trading session is on the cards.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
Prices most likely congested inside Rs 225-220 level and either side breakout would suggest fresh directional move.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
Further correction is expected only below Rs 204. If unable to do so may see recovery upticks.
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