Commodity Intraday Technical Outlook 02 January 2024 - Geojit Financial Services
Gold LBMA Spot
Prices remains sideways initially with mild positive bias. 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
A mild upside turnaround expected the day. Sustained trades above $74 would trigger major rallies.
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
If the support of Rs 5950 remain holds, would see recovery rallies. A direct drop of which may see further weakness.
Natural Gas Jan
As long as prices stay 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
Intraday outlook mostly on the positive side as long as it stays above Rs 205.
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