Commodity Intraday Technical Outlook 08 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
While prices stays above $20.50 expect choppy with mild upticks for the day. A direct fall below the same would continue selling pressure.
Crude Oil NYMEX
If prices stay below the support of $74 expect liquidation pressure would continue in the counter. A direct break above $82 would negate the view.
Gold KG Dec
Consistent trades above Rs 53850 would extend buying interest . Else, there are chances of corrective selling pressure.
Silver KG Feb
As long as Rs 65000 hold the downside, expect upticks to continue in the counter. A direct drop of which would trigger liquidation pressure.
Crude Oil Dec
While prices stay below the support of Rs 6100 would extend weakness for the day. Inability to do the same may see recovery upticks.
Natural Gas Dec
Recovery upticks would continue while prices stay above Rs 452. Unexpected drop of which is a weak sign.
Copper Dec
Expect a mild recovery in prices as long as the support of Rs 690 remain undisturbed. A direct drop of the same is a weak signal.
Nickel Dec
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Dec
Rallies would continue while prices stay above Rs 280. A direct dip below Rs 275 is a short term weak signal.
Lead Dec
While prices stays above Rs 185 there are potential upside bias. A direct dip below Rs 182 is a weak signal.
Aluminium Dec
Breaking 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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