Commodity Intraday Technical Outlook 16 December 2024 - Geojit Financial Services Ltd
Intraday Technical Outlook
Gold LBMA Spot
Further rallies seen only above $2700. Immediate downside reversal point is seen at $2620.
Silver LBMA Spot
Prices remain choppy in a tight range with mild negative bias.
Crude Oil NYMEX
Consistent trades above $70 may extend rallies. If not, there are chances of selling pressure.
Gold KG Feb
Immediate resistance is seen at Rs 79000 which needs to be cleared for further rallies.
Silver KG Mar
It is required to break above Rs 96000 to extend rallies. Else, weak bias is on the cards.
Crude Oil Dec
Intraday resistance is seen at Rs 6000 which needs to be cleared for further rallies.
Natural Gas Dec
Prices remain choppy with mild positive bias.
Copper Dec
While below Rs 820 there are chances of choppy with mild weak bias.
Nickel Dec
Nil volume trades expected.
ZincM Dec
If unable to break the support of Rs 285 there are chances of recovery rallies.
LeadM Dec
While prices stay below Rs 180 intraday sentient mostly downbeat.
AluminiumM Dec
Congested trades indie Rs 248-240 levels expected initially and either side breakout would suggest fresh directions.
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