Commodity Intraday Technical Outlook 18 January 2023 - Geojit Financial Services
Gold LBMA Spot
Inability to move past $1900 there are chances of recovery upticks. However it needs to clear $1925 to strengthen the momentum.
Silver LBMA Spot
Choppy trading expected initially. A direct break above $24.50 would trigger fresh rallies.
Crude Oil NYMEX
Further rallies are expected only a break above $81. Inability to do so may see slight liquidation pressure.
Gold KG Feb
A direct break above Rs 56600 would extend buying interest. Else, corrective selling pressure are likely for the day.
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 with mild negative bias expected the day. Consistent trades above Rs 315 would trigger fresh rallies.
Copper Jan
Break above Rs 775 may see further rallies in the counter. Else, choppy with mild negative bias is on the cards for the day
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
Prices remain stay positive as long as Rs 218 hold the downside. A direct dip below Rs 210 would trigger liquidation pressure.
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