Intraday Technical Outlook 04 January 2022- Geojit Financial Services
Gold
LBMA Spot
Immediate outlook remains choppy inside $1830- 1790 levels and breaking either the sides would suggest fresh directions to the commodity.
Silver
LBMA Spot
Break below the support of $21.20 short term outlook will turn to bearish. Else, choppy trading is on cards.
Crude Oil
NYMEX
Upticks to continue while prices stay above $73.50. consistent trades below $69 is a weak signal.
Gold
KG Feb
Prices required to break Rs 48500 to extend the positive momentum. Else, intraday bias mostly on the weaker side
Silver
KG Mar
Stiff resistance is seen at Rs 63400 which needs to be cleared for continue upticks. If unable to do so expect weak bias for the day.
Crude Oil
Jan
Break above Rs 5760 would extend the positive outlook. Inability to do so, intraday trend will be on the weaker side.
Natural Gas
Jan
Immediate resistance is seen at Rs 281, break of which fresh rallies is on cards. A close below Rs 270 would trigger selling pressure in the commodity.
Copper
Jan
Upticks likely to continue while prices stays above Rs 738. A close below Rs 728 is a short term weak signal.
Nickel
Jan
Outlook continue to be positive while prices stays above Rs 1560. a direct break of Rs 1520 is a weak signal.
Zinc
Jan
Choppy with negative bias trading expected as long as prices stay below Rs 288. Further rallies are seen only a break of Rs 293.
Lead
Jan
Break above Rs 188 is needed to trigger fresh rallies. If unable to so, prices may correct lower in near future.
Aluminium
Jan
Inability to move past Rs 227 there are chances of corrective selling pressure. A direct break above Rs 229 is a fresh buying signal.
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