Commodity Intraday Technical Outlook 16 January 2023 - Geojit Financial Services
Gold LBMA Spot
Upticks would continue as long as prices stay above $1860. A direct drop below $1825 would negate the veiw.
Silver LBMA Spot
Inability to move past $23.20 expect rallies to continue the day. An unexpected dip below the same is a weak signal.
Crude Oil NYMEX
If unable to trade consistently above $80 there are chances of corrective selling pressure. Unexpected rise above the same would extend rallies.
Gold KG Feb
Upticks likely to see while prices stay above Rs 55400. Break below Rs 54300 is a sign of weakness.
Silver KG Mar
Consistent trades above Rs 70000 is required to continue upticks for the day. A direct dip below Rs 68000 is a sign of weakness.
Crude Oil Jan
If the support of Rs 6400 remains hold expect slight recovery upticks. A direct drop below Rs 6100 is a weak sign.
Natural Gas Jan
.Further selloffs are seen only below Rs 285. If unable to break the same would see mild recovery upticks for the day.
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
Outlook remains on the bullish side while prices stay above Rs 282. A direct drop of which would trigger liquidation pressure.
Lead Jan
Consistent trades above Rs 190 would extend weakness. Else, there are chances of selling pressure.
Aluminium Jan
Positive outlook remains on the cards as long as prices stay above Rs 210. Consistent trades below Rs 200 is a sign of liquidation.
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