Commodity Intraday Technical Outlook 03 January 2023 - Geojit Financial Services
Gold LBMA
Spot Consistent trades above $1825 would extend rallies. Else, there are chances of corrective selling pressure for the day.
Silver LBMA
Spot Choppy trading expected initially, but a direct break above $24.50 would trigger fresh rallies.
Crude Oil NYMEX
Stiff resistance is seen at $82. Breaking the same is required continue buying pressure.
Gold KG Feb
Expect a congested trade inside Rs 55400-54300 levels initially. Breaking any of the sides would suggest fresh short term direction.
Silver KG Mar
Stiff resistance is seen at Rs 70000. Break of which is an early sign of fresh bullish momentum. Inability to so may see corrective selling pressure
Crude Oil Jan
Expect a mild positive bias trading initially. It is required to break above Rs 6750 to continue the momentum. Break below Rs 6300 is a bearish signal.
Natural Gas Jan
As long as the resistance of Rs 420 remains caps the upside, expect weak bias for the day. A direct lift above the same is a sign of fresh buying.
Copper Jan
Weak bias expected as long as Rs 720 caps the upside. Consistent trades above Rs 732 is a bullish signal.
Nickel Jan
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Jan
A direct break below Rs 266 would extend weak bias. Else, there are chances of recovery upticks.
Lead Jan
Inability to move past Rs 187, expect corrective selling pressure. Else, it may continue rallies for the day.
Aluminium Jan
Prices most likely to be congested inside Rs 212-205 levels and breaking any of the sides would suggest fresh directional moves.
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