Commodity Intraday Technical Outlook 9 November 2023 - Geojit Financial Services Ltd
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Gold LBMA Spot
Range bound trading inside $2000-1930 levels expected initially and breaking any of the sides would suggest fresh directional moves.
Silver LBMA Spot
Mild upticks are likely but there is a stiff resistance is placed at $23.80 which needs to be cleared for major rallies.
Crude Oil NYMEX
Outlook remains on the weaker side but if it clears the resistance of $78 would see recovery rallies.
Gold KG Dec
A direct break above Rs 60800 would extend recovery upticks. Else, choppy with negative bias trading expected the day.
Silver KG Dec
Likely for a mild upticks recovery but consistent trades above Rs 72000 is needed to continue the momentum.
Crude Oil Nov
Weakness likely to continue as prices stay below the stiff support of Rs 6450. 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
As prices cleared the support of Rs 705 the momentum mostly on the weaker side.
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
Range bound with weak bias expected initially. If it breaks the support of Rs 204 would liquidate further.
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