Commodity Intraday Technical Outlook 04 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 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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