Intraday Technical Outlook 07 January 2022- Geojit Financial Services
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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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