Commodity Intraday Technical Outlook 12 January 2023 - Geojit Financial Services
Gold LBMA Spot
While the support of $1825 remains hold the downside, expect mild positive bias to continue the day. A direct drop of which may correct prices lower.
Silver LBMA Spot
Range bound trade inside $23-24.50 levels remains on the cards initially and breaking any of the sides would suggest fresh directional moves.
Crude Oil NYMEX
While prices stay above $76 expect upticks to continue the day. A direct drop below $72 is a sign of weakness.
Gold KG Feb
Mild positive bias likely to see while prices stay above Rs 55400. Break below Rs 54300 is a sign of weakness.
Silver KG Mar
Break above Rs 70000 is required to continue upticks for the day. Unexpected break below Rs 68000 is a sign of weakness.
Crude Oil Jan
As long as prices stay above Rs 6300 would continue upticks. Else, corrective selling pressure may be seen today.
Natural Gas Jan
Copper Jan
Bullish outlook may continue as long as the support of Rs 740 hold the downside. Unexpected drop below Rs 720 is a sign of weakness.
Nickel Jan
Expect choppy with thin volume trading in the near future.
Zinc Jan
Immediate resistance of Rs 285 needs to be cleared for continuation of bullish bias. Else, expect a choppy trading for the day.
Lead Jan
Consistent trades above Rs 190 would extend weakness. Else, there are chances of selling pressure.
Aluminium Jan
A direct break above Rs 215 would trigger another round of rallies. Else, expect choppy trading for the day.
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