Commodity Intraday Technical Outlook 05 January 2024 - Geojit Financial Services
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Gold LBMA Spot
Prices remain congested in a tight range initially. Anyhow, major downside reversal is seen only below $1990.
Silver LBMA Spot
Recovery upticks are on the cards as long as prices stay above Rs 22.50. Direct drop of which is a sign of weakness.
Crude Oil NYMEX
Intraday bias remains choppy. Sustained trades above $74 would trigger recovery upticks.
Gold KG Apr A
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, choppy trades expected the day.
Crude Oil Jan
While below Rs 5950 would extend weakness. Else, recovery rallies are on the cards.
Natural Gas Jan
While above Rs 223 further rallies are on the cards. 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
Prices remain range bound inside Rs 205-210 levels and either side breakout would suggest fresh directions.
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