Commodity Intraday Technical Outlook 24 January 2023 - Geojit Financial Services
Gold LBMA Spot
Choppy trading expected initially. A direct rise above $1940 is needed to extend rallies for the day.
Silver LBMA Spot
Inability to move past $23.80 there are changes of corrective selling pressure to continue the day. It needed to break above $24.50 to trigger fresh rallies.
Crude Oil NYMEX
Break above $83 would continue rallies. Else, there are chances of corrective selling pressure.
Gold KG Feb
Consistent trades above Rs 56600 may extend buying interest. Else, corrective selling pressure are likely for the day.
Silver KG Mar
While prices stay below Rs 66600 would extend liquidation pressure. If not, expect a mild turnaround in prices.
Crude Oil Feb
Breaking the immediate resistance of Rs 6750 is needed to extend rallies. Else, choppy with mild negative bias trading expected the day.
Natural Gas Jan
Expect a range bound trade inside Rs 295-262 levels initially and breaking any of the sides would suggest fresh directional moves for the day.
Copper Feb
While prices stay above Rs 775 may see extension of rallies. Else, choppy with mild negative bias is on the cards for the day.
Nickel Feb
Expect choppy with thin volume trading in the near future.
Zinc Feb
Outlook remains on the bullish side while prices stay above Rs 290. A direct drop of which would trigger liquidation pressure.
Lead Feb
Corrective selloffs are likely while pries stay below Rs 189.
Aluminium Feb
Inability to break the support of Rs 222 ongoing bullish appeal likely to continue in the counter. A direct break of Rs 208 is a sign of liquidation.
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