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01-12-2023 12:04 PM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 12 January 2023 - Geojit Financial Services
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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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