Commodity Intraday Technical Outlook 11 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Weakness likely to continue initially. Anyhow broad trend remains on the positive side as long as it stays above $1990.
Silver LBMA Spot
While price stay below $23.50 would continue with weak outlook. Recovery rallies are seen only above Rs 24.50.
Crude Oil NYMEX
A direct dip below $68 would extend weakness. If not, recovery upticks can be seen.MCX Technical Commentary
Gold KG Feb
Break below the support of Rs 61200 would extend weakness. Inability to do so may see recovery upticks.
Silver KG Feb
As long as prices stay below Rs 73500 corrective selloffs would continue. A direct rise above Rs 76000 would negate the view.
Crude Oil Dec
Break 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 225
Copper Dec
Consistent trades above Rs 725 expect rallies. If not weakness would prevail in the counter.
Nickel Dec
Expect choppy with thin volume trading in the near future.
Zinc Dec
Break below the support of Rs 218 would trigger weakness. If not recovery upticks are on the cards.
Lead Dec
A direct rise above Rs 188 could negate the prevailing weak momentum and edge prices higher.
Aluminium Dec
It is required to break above Rs 198 to negate the prevailing weak momentum and take prices higher.
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