Commodity Intraday Technical Outlook 08 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain rangebound. Anyhow broad trend remains on the positive side as long as it stays above $1990.
Silver LBMA Spot
A direct break above $25.20 would continue rallies. Else, likely see weak momentum for the day.
Crude Oil NYMEX
Weak sentiments expected as long as it stays below $74. Immediate upside turnaround point is placed at $78.
Gold KG Feb
There are chances of mild recovery upticks initially. However, major selloffs are expected only below Rs 62000.
Silver KG Feb
Break above Rs 77200 is needed to trigger fresh rallies. inability to move past the same, expect weak bias for the day.
Crude Oil Dec
While below Rs 5800 would extend liquidation pressure. If the support hold, expect recovery upticks.
Natural Gas Dec
Outlook remain on the bearish side. Immediate upside turn around point is placed at Rs 240.
Copper Dec
Intraday bias mostly on the weaker side while prices stay below Rs 715. Consistent trades above Rs 725 expect rallies.
Nickel Dec
Expect choppy with thin volume trading in the near future.
Zinc Dec
If prices sustain above Rs 224 there are chances of recovery rallies. Else, weakness may continue the day.
Lead Dec
A direct rise above Rs 188 could negate the prevailing weak momentum and edge prices higher.
Aluminium Dec
Consistent trades above Rs 198 can negate the prevailing weak momentum and take prices higher.
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