Published on 9/12/2019 10:00:22 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 07 December 2019 - Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

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Gold Mini Jan/LBMA Spot Gold

Intraday bias likely to be on the downside as long as prices stay below $1482 for the day. However, prices needs to break $1445 to continue the momentum towards $1430 or even more. Else, expect a mild recovery. MCX GoldM Jan: Res at 38200. Sup: 37600.


Silver Mini Feb/ LBMA Spot Silver

As prices cleared below the support of $16.70 expect selling momentum to continue the day. An unexpected turn higher above $16.90 would negate the trend and take prices higher. MCX Feb: Res at 44250. Sup: 43100.


Copper Dec

Expect recovery upticks to continue as prices hold the stiff support of 432. Unexpected drop below 426 would extend selling pressure.


Nickel Dec

Weak bias may continue towards 970/958 or even more as long as prices stay below 1014. A direct turn above 1028 is required to negate the view.


Lead Mini Dec

If the support of 152 hold the downside, expect recovery moves towards 154 initially followed by 155.20


Zinc Mini Dec

As long as prices stay below 185 expect selling pressure to continue the day. Immediate support is seen at 181.


Alumini Dec

Recovery upticks may continue as long as prices stay above 132.


Crude Oil Dec/ NYMEX Crude

As long as prices stay above $57.50 expect the positive outlook to continue towards $60/61.50 or even more for the day. However, a direct dip below $57.20 could negate the bullish outlook and take price lower possibly till $55. MCX support at 4092. Res 4280.


Natural Gas Dec

Expect weakness to continue with immediate support is seen at 157. A direct drop below the same may take prices lower till 152 or more.


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