Commodity Intraday Technical Outlook 7 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Prices possibly range inside $2000-1930 levels and breaking any of the sides would suggest fresh directional moves.
Silver LBMA Spot
It is required to sustain above $23.80 to trigger further rallies. Else, corrective selling pressure is expected the day.
Crude Oil NYMEX
Fall below $80 there are more possibilities of further selling pressure. If not, likely for a choppy session for the day.
Gold KG Dec
Corrective downside are likely as long as Rs 61500 caps upside. A direct rise above the same would target fresh highs.
Silver KG Dec
Break above Rs 73800 is a sign of fresh rallies. Else, choppy with corrective selloffs are likely for the day.
Crude Oil Nov
If unable to break the stiff support of Rs 6700 would extend recovery rallies. Else, recovery selling pressure is likely for the day.
Natural Gas Nov
Weak bias may continue while prices stay below Rs 284. Consistent trades above the same would extend rallies.
Copper Nov
If the support of Rs 705 remain undisturbed, expect rallies to continue the day.
Nickel Nov
Expect choppy with thin volume trading in the near future.
Zinc Nov
If unable to move past Rs 224 there are potential upside. A direct fall of which could negate the view.
Lead Nov
Consistent trades below Rs 187 is a sign of weakness. If not, expect recovery rallies.
Aluminium Nov
Upticks would continue while prices stay above Rs 204. Consistent trades below the same would trigger selling pressure.
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