Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 18 October 2023 By Geojit Financial Services Ltd
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BULLION
Gold
Pullback rallies are likely as long as the support of Rs 58800 hold downside. An unexpected drop of which would negate the view.
Silver
While prices stay above Rs 72000 there are more chances to continue upticks. A close below Rs 70200 would weaken the sentiments.
ENERGY
Crude Oil
Upticks possibly to continue as the support of Rs 7300 remain undisturbed. An unexpected drop of which could negate the view and correct prices lower.
Natural Gas
Weak bias remains on the cards as long as prices stay below Rs 272. A direct surge above the same is a sign of reversal.
BASE METALS
Copper
Choppy with mild upside bias expected if the stiff support of Rs 695 holds downside. Anyhow major upside obstacle is seen around Rs 715.
Nickel
Thin volume trades seen.
Zinc
Choppy trades would continue initially. A direct rise above Rs 223 would strengthen positive bias.
BASE METALS
Lead
Support below Rs 185 would extend weakness. Else, upside bias more likely for the day.
Aluminium
There are chances of a upside turnaround if the support of Rs 203 remain undisturbed.
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