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01-07-2022 11:42 AM | Source: Geojit Financial Services Ltd
Intraday Technical Outlook 07 January 2022- Geojit Financial Services
News By Tags | #473 #4943

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Gold

LBMA Spot

Immediate outlook remains choppy inside $1830- 1780 levels and breaking either the sides would suggest fresh directions for the commodity.

Silver

LBMA Spot

Bearish outlook remains on cards as long as the resistance of $23.50 remains caps the upside. Anyhow major support is seen at 21.20.

Crude Oil

NYMEX

Bullish bias likely to continue while the support of $76.50 restrict downside moves. Major resistance is placed at $81.50.

Gold

KG Feb

Inability to move past Rs 48500 weak outlook to continue the day. A direct rise above the same would negate the view.

Silver

KG Mar

Immediate support at Rs 60200 a direct drop of which would extend the selling pressure. Upside turnaround point is placed at Rs 63000.

Crude Oil

Jan

Bullish outlook would extend as long as prices stays above Rs 5760. Immediate downside reversal point is at Rs 5520.

Natural Gas

Jan

Rane bound trade inside Rs 295-278 levels expected initially and breaking either the sides would suggest fresh short term directions.

Copper

Jan

While prices stays below Rs 738 expect corrective selling pressure to continue the day. A close below Rs 728 is a short term weak signal.

Nickel

Jan

A direct break of Rs 1520 is a weak signal. Else choppy with recovery upticks are on cards.

Zinc

Jan

Choppy with negative bias trading expected as long as prices stay below Rs 292. 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 232 there are chances of corrective selling pressure. A direct break below Rs 223 is a sign of major liquidation pressure.

 

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