Commodity Intraday Technical Outlook 05 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
A turnaround is possible while the support of $72 remain undisturbed. A direct drop of which would trigger further liquidation pressure.
Gold KG Feb
As prices stay above Rs 55400 there are chances of recovery upticks to continue the day. Unexpected break below Rs 55100 is a sign of liquidation pressure.
Silver KG Mar
Further rallies are seen only a consistent trades above Rs 70500. Else, there are chances of choppy with mild negative bias trading.
Crude Oil Jan
Support of Rs 6000 if restrict downside, there are chances of recovery upticks. Else, it may continue selling pressure for the day.
Natural Gas Jan
While prices stay below Rs 360 liquidation pressure may continue the day. A direct rise above Rs 392 would extend recovery upticks.
Copper Jan
Choppy with mild upticks expected as long as the support of Rs 700 remain undisturbed. A direct fall of which is a sign of liquidation.
Nickel Jan
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Jan
If unable to move past Rs 265 an upside turnaround is most likely for the day. A direct dip of which is a weak signal.
Lead Jan
Inability to move past Rs 190, expect corrective selling pressure. Else, it may continue rallies for the day.
Aluminium Jan
While prices stay below Rs 204 weakness may continue the day. A direct turn above Rs 208 is a reversal signal.
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