Evening Roundup : A Daily Report on Bullion, Energy & Base Metals for 23 October 2023 By Geojit Financial Services Ltd
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BULLION
Gold
MACD bullish divergence suggest mild positivity. However, a dip below 59900 may induce weakness.
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
MACD Bullish divergence indicate mild positivity. Rebound above 74060 may strengthen the prices further. Whereas, a dip below 72000 region may induce weakness as well.
Natural Gas
Weakness would continue as long as prices stay below 247 region. A Sturdy rebound above the same level may strengthen the prices as well.
BASE METALS
Copper
Mild rebounds may be seen if prices hold the support of 686 on the trend line. Else, dip below the same may induce further weakness.
Nickel
Thin volume trades seen.
Zinc
Extended dip below 216.40 may weaken the prices further. Rebound may sustain only above 220 region.
BASE METALS
Lead
Extended dip below 184.80 region may weaken the prices. If unable to breach the same may see mild rebounds.
Aluminium
Intraday trades expected to be range bound with mild weak bias. Consistent trades above 202.70 may induce rebounds.
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