01-04-2023 12:08 PM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 04 January 2023 - Geojit Financial Services
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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 below $23 is a sign of downside reversal.

Crude Oil NYMEX

Consistent trades below $76 prices would liquidate further. Else, there are chances of recovery upticks.

Gold KG Feb

Prices remains congested inside Rs 55400-54300 levels initially. Breaking any of the sides would suggest fresh short term direction.

Silver KG Mar

Inability to move past Rs 70000 there are chances of corrective downside for the day. Else, it may continue rallies.

Crude Oil Jan

Selling pressure would continue while prices stay below Rs 6580. Recovery rallies are expected only a break above Rs 6700.

Natural Gas Jan

While prices stay below Rs 375 liquidation pressure may continue the day. A direct rise above Rs 392 would extend recovery upticks.

Copper Jan

Weak bias would continue 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 190, expect corrective selling pressure. Else, it may continue rallies for the day

Aluminium Jan

As long as prices stay below Rs 208 weak bias to continue the day. Consistent trades above Rs 212 is an upside reversal point.

 

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