Commodity Intraday Technical Outlook 29 December 2022 - Geojit Financial Services
Gold LBMA Spot
Consistent trades above $1820 would extend rallies. Else, there are chances of corrective selling pressure for the day.
Silver LBMA Spot
Choppy with corrective selling is likely as long as $24.30 caps the upside.
Crude Oil NYMEX
If unable to clear the resistance of $81 there are chances of liquidation pressure. A direct rise above the same would tigger rallies.
Gold KG Feb
Expect a choppy trade inside Rs 55400-54300 levels initially and breaking any of the sides would suggest fresh short term direction.
Silver KG Mar
Break above Rs 70000 is needed to extend buying pressure. Else, chances of corrective selling are on the cards.
Crude Oil Jan
Choppy with mild negative bias expected initially. A direct rise above Rs 6750 would extend further rallies. Likewise dips below Rs 6300 is a weak signal.
Natural Gas Jan
Choppy with recovery upticks expected initially. A direct lift above Rs 420 is a sing of fresh buying.
Copper Jan
Choppy trading expected while the support of Rs 720 remains undisturbed. A direct drop of Rs 710 is a sign of reversal.
Nickel Jan
There are chances of fresh buying interest in the counter. But it is expected a volume less trade near term.
Zinc Jan
Inability to move past Rs 265 there are potential recovery rallies for the day. A direct drop of which is a sign of liquidation.
Lead Jan
Resistance of Rs 187 if remains caps, expect corrective selling pressure. Else, it may continue rallies for the day.
Aluminium Jan
A direct break below Rs 207 would extend liquidation. Else there re chances of recovery upticks.
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