Commodity Intraday Technical Outlook 09 January 2023 - Geojit Financial Services
Gold LBMA Spot
Expect upticks to continue while the support of $1825 remains hold the downside. A direct drop of which may correct prices lower.
Silver LBMA Spot
Expect a choppy with mild positive bias trading initially. A direct break below $23 is a sign of downside reversal.
Crude Oil NYMEX
If the support of $72 remains hold, expect recovery upticks for the day. Consistency below the same is a sign of liquidation.
Gold KG Feb
As long as prices stay above Rs 55400 expect bullish outlook to continue the day. Break below Rs 54300 is a sign of weakness.
Silver KG Mar
A direct break above Rs 70000 is needed to continue upticks. Else, expect choppy trading for the day.
Crude Oil Jan
As long as the support of Rs 6100 holds downside, expect slight recovery upticks for the day. A direct drop of which is a weak sign.
Natural Gas Jan
Choppy with mild recovery upticks expected as long as Rs 315 remains hold the downside. Fall below Rs 310 would extend weakness.
Copper Jan
Expect recovery upticks while the support Rs 720 hold the downside.
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 the support of Rs 266 holds, expect recovery upticks. A direct drop of which is a liquidation sign.
Lead Jan
Inability to move past Rs 190, expect corrective selling pressure. Else, it may continue rallies for the day.
Aluminium Jan
Expect a choppy trade inside Rs 200-208 levels and breaking any of the sides would suggest fresh directional moves.
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