Commodity Intraday Technical Outlook 12 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain rangebound with negative. 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 negate present weakness.
Crude Oil NYMEX
Weak sentiments expected as long as it stays below $72. Immediate upside turnaround point is placed at $75.
Gold KG Feb
There are chances of mild recovery upticks initially. However, further selloffs are expected only below Rs 61000.
Silver KG Feb
Break below Rs 71200 may see extension of selling pressure. Else, rallies expected the day.
Crude Oil Dec
A direct 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 212.
Copper Dec
Expect a range bound trade inside Rs 725-708 levels and breaking any of the sides would suggest fresh directional moves.
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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