Commodity Intraday Technical Outlook 12 January 2024 - Geojit Financial Services
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Gold LBMA Spot
Prices remain choppy initially. Anyhow, major downside reversal is seen only below $1990.
Silver LBMA Spot
If the support of $22.50 remain hold expect choppy with recovery upticks.
Crude Oil NYMEX
Break above $74 would trigger further rallies. Else, may see corrective selloffs.
Gold KG Apr
Break below Rs 61800 would trigger extend selling pressure. Else, there are chances of a recovery rally.
Silver KG Feb
A direct drop below Rs 71000 may see extension of selling pressure. Else, pullback rallies are expected.
Crude Oil Jan
Congested trade inside Rs 6200-5800 levels expected and breaking any of the sides would call for fresh directions.
Natural Gas Jan
If the support of Rs 245 hold, there are chances of recovery rallies would extend.
Copper Jan
Weak bias remains on the cards as long as prices stay below Rs 725.
Nickel Jan
Expect choppy with thin volume trading in the near future.
Zinc Jan
A direct fall below Rs 224 may see further weakness. Else, recovery upticks expected.
Lead Jan
Expect to trade inside Rs 184-181 levels and either side breakout would setoff fresh directional moves.
Aluminium Jan
Stiff support is seen at Rs 203. A direct drop of which would liquidate prices further. Else, recovery rallies expected.
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