Commodity Intraday Technical Outlook 16 December 2022 - Geojit Financial Services
Gold LBMA Spot
Consistent trades above $1810 would continue rallies. Else, expect a choppy with corrective selling pressure for the day.
Silver LBMA Spot
Choppy with mild recovery upticks may continue while prices stay above $22. A direct drop below $20.50 is a sign of selling pressure.
Crude Oil NYMEX
Upticks may continue while the support of $70 remains undisturbed. A direct dip below the same is a sign of liquidation.
Gold KG Dec
Inability to break the support of Rs 53850 would continue rallies. A direct drop below Rs 53600 likely to trigger selling pressure.
Silver KG Feb
Intraday bias likely to correct prices initially. But if it hold the support of Rs 65000 there are chance of a recovery later.
Crude Oil Dec
If pries remains held above Rs 6200 likely to extend rallies. Else, choppy with mild negative bias is on the cards for the day.
Natural Gas Dec
If unable to move past Rs 585 there are chances of corrective selling pressure for the day. A direct rise above the same would trigger rallies.
Copper Dec
As long as Rs 700 hold the downside, expect recovery upticks for the day. A direct dip below the same is a sing of liquidation pressure.
Nickel Dec
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Dec
If Rs 282 remains holds, expect upticks initially. An unexpected drop of which is a weak signal.
Lead Dec
If Rs 187 remains caps the upside, expect corrective selling pressure. Else, it may continue rallies for the day.
Aluminium Dec
A direct dip below Rs 210 would trigger selling pressure. Inability to do the same is a recovery sign.
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