Commodity Intraday Technical Outlook 07 December 2022 - Geojit Financial Services
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Gold LBMA Spot
Upticks unlikely to continue unless breaking the resistance of $1800. However, major selling pressure may seen only a break of the stiff support of $1730.
Silver LBMA Spot
If the support of $20.50 remains hold, expect recovery upticks for the day. A direct fall below the same would continue selling pressure.
Crude Oil NYMEX
Consistent trades below the support of $74 is an early sign of major liquidation pressure. However recovery rallies above $82 could negate the view.
Gold KG Dec
Inability to move past Rs 53850 selling pressure to continue the day. A direct rise above the same would extend rallies.
Silver KG Feb
If the support of Rs 64400 hold the downside, expect mild recovery upticks for the day. A direct drop below the same is a sign of further weakness.
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
Inability to move past the support of Rs 440 there are chance of recovery upticks for the day. A direct drop of which would liquidate prices further.
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
As long as prices stay above Rs 267 likely to extend buying interest. Else, there are chances of weak bias.
Lead Dec
If prices stays above Rs 185 there are potential upside bias. A direct dip below Rs 182 is a weak signal.
Aluminium Dec
Break above the stiff resistance of Rs 220 is needed to continue rallies. Else, there are chances of selling pressure for the day.
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