Commodity Intraday Technical Outlook 01 December 2022 - Geojit Financial Services
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Gold LBMA Spot
Upticks likely to continue initially. Further selling pressure is seen only a break of the stiff support of $1720.
Silver LBMA Spot
While prices stay above $22 would continue rallies. Consistent trades below $20.50 is a sign of short term weakness.
Crude Oil NYMEX
Consistent trades above $82.5 would extend buying pressure. Else, there are chances of choppy with mild negative bias trading.
Gold KG Dec
If the resistance of Rs 53000 remains caps the upside, expect corrective selling pressure. A direct rise above the same would extend rallies.
Silver KG Feb
A direct break above Rs 64000 would extend fresh buying interest. Otherwise corrective selling pressure is on the cards.
Crude Oil Dec
Consistent trades above Rs 6600 would extend rallies for the day. Inability to do the same may see corrective selling pressure.
Natural Gas Dec
Further rallies are seen only above Rs 595. If the resistance remains caps expect selling pressure for the day.
Copper Dec
Inability to Rs 682 there are chances of corrective selling pressure to continue the day. A direct rise above would lift prices further higher.
Nickel Dec
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Dec
While prices stay above Rs 267 likely to extend buying interest. Else, there are chances of weak bias.
Lead Dec
As long as prices stay above Rs 185 there are potential upside for the day. A direct dip below Rs 182 is a weak signal.
Aluminium Dec
If unable to break the support to Rs 205, intraday bias mostly on the positive side. Anyhow stiff resistance is seen at Rs 214.
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