Commodity Intraday Technical Outlook 13 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain choppy with negative. Anyhow broad trend remains on the positive side as long as it stays above $1990.
Silver LBMA Spot
Weakness likely to continue initially. A direct break above $25.20 would negate present weakness.
Crude Oil NYMEX
Liquidation pressure may continue while prices stay below $70. Consistent trades above $72 could negate the view.
Gold KG Feb
Mild recovery upticks can see initially. However, further selloffs are expected only below Rs 60500.
Silver KG Feb
Break below Rs 71200 may see extension of selling pressure. Else, recovery rallies expected 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 212.
Copper Dec
Prices remain choppy 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
It is required to break and sustain above Rs 198 to negate the prevailing weak momentum and take prices higher.
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