Commodity Intraday Technical Outlook 01 January 2024 - Geojit Financial Services
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Gold LBMA Spot
Prices remains sideways initially. Immediate downside reversal is seen only below $1990.
Silver LBMA Spot
Immediate resistance is at $24.60. Further weakness is seen only below $23.50.
Crude Oil NYMEX
Broad view remains on the weaker side. Sustained trades above $74 would trigger recovery upticks.
Gold KG Feb
Choppy with mild positive bias trading expected as long as it stays above Rs 62600.
Silver KG Feb
Consistent trades above Rs 75000 would trigger recovery rallies. Else, weak bias would see the day.
Crude Oil Jan
Break below Rs 5950 would extend weakness. Else, recovery rallies are on the cards.
Natural Gas Jan
Break above Rs 215 would extend rallies. Else, prices most likely choppy today.
Copper Jan
While above Rs 730 would extend rallies. Else, may see corrective selling pressure.
Nickel Jan
Expect choppy with thin volume trading in the near future. Zinc Jan While above Rs 230 upticks would continue. Else, weakness may continue the day. Lead Jan Immediate support at Rs 180. Break below would extend weakness. Aluminium Jan Expect positive outlook as long as it stays above Rs 205.
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