Commodity Intraday Technical Outlook 06 December 2022 - Geojit Financial Services
Gold LBMA Spot
Upticks unlikely to continue initially. However, major selling pressure may seen only a break of the stiff support of $1730.
Silver LBMA Spot
Consistent trades below $20.50 is a sign of short term weakness. Inability to do so may see mild recovery bias for the day.
Crude Oil NYMEX
Expect choppy with weak bias as long as prices stay below $80. A direct rise above $82.50 is a sign of further rallies.
Gold KG Dec
Inability to move past Rs 53800 expect selling pressure to continue the day. A direct rise above the same would extend rallies.
Silver KG Feb
Corrective selling pressure would continue if prices are unable to stabilise above Rs 64800.
Crude Oil Dec
Consistent trades below the support of Rs 6500 would extend weakness for the day. Inability to do the same may see recovery upticks.
Natural Gas Dec
Trades below Rs 465 is an immediate sign of short term weakness. A direct rise above Rs 510 could negate the view.
Copper Dec
If unable to move past Rs 705 there are potential selling pressure for the day. However stiff support is placed at Rs 685.
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
Stiff resistance is seen at Rs 220. Consistent trades above the same is a sign of fresh rallies. Major support is placed at 195.
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