Commodity Intraday Technical Outlook 7 October 2024 - Geojit Financial Services Ltd
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Gold LBMA Spot
Initial trades likely to be choppy but there are chances of bullish rallies to continue later.
Silver LBMA Spot
A direct rise above $32.50 would extend rallies. Else, choppy trades are likely for the day.
Crude Oil NYMEX
Further rallies expected only a break above $75. Inability to break it would see corrective selloffs.
Gold KG Oct
A direct rise above Rs 75800 would surge prices further highs. Else, corrective selloffs possible the day.
Silver KG Dec
Inability to break above Rs 94000 there are chances of corrective selloffs for the day.
Crude Oil Oct
Break above Rs 6400 would extend rallies. If not, may see corrective selloffs.
Natural Gas Oct
Inability to move past Rs 248 expect weak bias for the day.
Copper Oct
Congested trades inside Rs 840-860 is expected and any of the sides breakout would suggest fresh directions..
Nickel Oct
Expect choppy with thin volume trading in the near future.
ZincM Oct
While above Rs 282 sentiment remains on the positive side.
LeadM Oct
Inability to cross above Rs 188 expect mild selling pressure for the day.
AluminiumM Oct
Consistent trades above Rs 240 may extend rallies. Drop below Rs 232 is a sign of downside reversal.
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