Commodity Intraday Technical Outlook 03 January 2024 - Geojit Financial Services
Gold LBMA Spot
Choppy with corrective selloffs expected initially. Anyhow, major downside reversal is seen only below $1990.
Silver LBMA Spot
Consistent trades below $23.40 would weaken the sentiments further. Else recovery rallies are expected.
Crude Oil NYMEX
Broad view remains on the weaker side. Sustained trades above $74 would trigger recovery upticks.
Gold KG Apr
Prices remains choppy initially. A direct rise above Rs 64000 would trigger further rallies.
Silver KG Feb
Consistent trades above Rs 75000 is required to extend rallies. Else, weak bias would extend the day.
Crude Oil Jan
While below Rs 5950 would extend weakness. Else, recovery rallies are on the cards.
Natural Gas Jan
Resistance at Rs 223 which needs to be cleared for further rallies. Else, choppy with negative bias expected.
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 a choppy trade inside Rs 205-210 levels and breaking any of the sides would suggest fresh directions.
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