Commodity Intraday Technical Outlook 8 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
While below $80 there are more possibilities of further selling pressure. Anyhow, stiff support is placed at $74.
Gold KG Dec
More downsides are likely as long as Rs 60800 caps upside. A direct rise above the same would negate the view.
Silver KG Dec
As long as prices stay below Rs 71000 intraday sentiment mostly on the weaker side.
Crude Oil Nov
Weakness likely to continue as prices stay below the stiff support of Rs 6700. A direct rise above is needed to negate the view.
Natural Gas Nov
A mild recovery expected initially. However while it stays below Rs 284 broad bias likely to be on the weaker side.
Copper Nov
Prices remain choppy initially. Anyhow, if unable to break the support Rs 705 major selloffs are unlikely for 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
Initially choppy trading expected. Anyhow if it breaks the support of Rs 204 would liquidate further.
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