Commodity Intraday Technical Outlook 17 January 2023 - Geojit Financial Services
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Gold LBMA Spot
Though the near term outlook remains positive, if unable to break above $1925 expect corrective selling pressure for the day. A direct drop below $1825 is a weak signal.
Silver LBMA Spot
A direct break above $24.50 would extend fresh rallies. Else, there are chances of selling pressure in today’s session.
Crude Oil NYMEX
Further rallies are expected only a break above $81. Inability to do so may see slight liquidation pressure.
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
Sustained 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
A direct break below the support of Rs 6300 there are chances of extending selling offs. Else, recovery bias is on the cards.
Natural Gas Jan
Choppy trading expected initially. An unexpected drop below Rs 285 would extend liquidation pressure.
Copper Jan
Further rallies can be seen only above Rs 775. If unable to break the resistance expected selling pressure.
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
Sustained trades above Rs 192 expect recovery rallies. 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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