Intraday Technical Outlook 17 January 2022 - Geojit Financial Services
Gold
LBMA Spot
Immediate resistance of $1830 needs to be cleared for continuation of positive outlook. Else, there are chances of corrective selling for the day.
Silver
LBMA Spot
Corrective selling is likely if prices are unable to move past $23.50. Anyhow, major support is placed at $21.20.
Crude Oil
NYMEX
Outlook remains positive as long as the support of $76.50 restrict downside moves. Next major resistance is placed at $85.
Gold
KG Feb
Resistance at Rs 47900 which needs to be cleared for continuation of upticks. Else, choppy with mild negative bias trading is on cards.
Silver
KG Mar
A direct drop below Rs 59400 would drift prices further lower. Else, expect a range bound trading for the day.
Crude Oil
Jan
Bullish outlook remains on cards as long as the support of Rs 5980 restrict further downsides.
Natural Gas
Jan
Expect a choppy trading inside Rs 302-325 levels and breaking any of the sides would suggest fresh direction to the commodity.
Copper
Jan
Further rallies are on cards only a break above Rs 748. Else, expect a choppy trading for the day.
Nickel
Jan
Consistent trades above the resistance of Rs 1645 would trigger further rallies. Else, there are chance of corrective selling pressure.
Zinc
Jan
Breaking Rs 294 is needed to trigger fresh rallies. If unable to do so, choppy trading is on cards for the day.
Lead
Jan
Further rallies are seen only if it cross above Rs 191. Inability to do so, prices may correct lower.
Aluminium
Jan
Upticks to continue while the support of Rs 232 remains undisturbed. Break above Rs 238 would extend rallies.
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