Commodity Intraday Technical Outlook 15 January 2024 - Geojit Financial Services
Gold LBMA Spot
Range bound trading remains on the cards. Anyhow, major downside reversal is seen only below $1990.
Silver LBMA Spot
A mild upticks can see initially. Anyhow, a direct drop below $22.50 would trigger selling pressure.
Crude Oil NYMEX
Prices remains choppy inside $70-74 levels and breaking any of the sides would suggest fresh directions
Gold KG Apr
Break below Rs 61800 would trigger selling pressure. Else, there are chances of a recovery rally.
Silver KG Feb
As long as Rs 71000 remain hold recovery rallies are on the cards for the day.
Crude Oil Jan
Prices remain choppy inside Rs 6200-5850 levels and either side breakout would guide further short term direction.
Natural Gas Jan
Intraday bias most likely on the weaker side while prices stay below Rs265. A direct rise above Rs 275 would take pries further higher.
Copper Jan
Intraday bias remain on the weaker side while prices stay below Rs 725.
Nickel Jan
Expect choppy with thin volume trading in the near future.
Zinc Jan
Consistent trades below Rs 224 may see further weakness. Else, recovery upticks expected.
Lead Jan
Choppy trading inside Rs 183.50-181 may continue initially and either side breakout would suggest fresh directions.
Aluminium Jan
Outlook remains on the weaker side as prices cleared the stiff support of Rs 203. Anyhow a direct break above Rs 206 could negate the view.