Commodity Intraday Technical Outlook 04 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
While below $23.40 intraday momentum mostly on the weaker side.
Crude Oil NYMEX
Recovery upticks are possible as long as the support of $70 remain undisturbed.
Gold KG Apr A
direct rise above Rs 64000 would trigger further rallies. Else, choppy trading expected the day.
Silver KG Feb
Consistent trades above Rs 75000 is required to extend rallies. Else, weak bias would extend the day.
Crude Oil Jan
As long as the support of Rs 5950 remain hold, there are chances of recovery rallies. A direct drop of which further weaken the sentiment.
Natural Gas Jan
While above Rs 223 intraday momentum largely on the positive side. Else, choppy with negative bias expected.
Copper Jan
Prices remain choppy inside Rs 724-732 levels and breaking any of the sides would suggest fresh directions.
Nickel Jan
Expect choppy with thin volume trading in the near future.
Zinc Jan
Break above Rs 230 upticks would continue. Else, weakness may continue the day.
Lead Jan
Inability to break the support of Rs 180 there are chances of mild recovery for the day.
Aluminium Jan
Choppy with mild negative bias expected. A direct surge above Rs 210 is sign of recovery rallies.
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