Commodity Intraday Technical Outlook 16January 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
Mild upticks expected initially. A direct break below Rs 61800 would trigger selling pressure.
Silver KG Feb
As long as Rs 71000 remain hold recovery rallies are on the cards for the day.
Crude Oil Jan
Breaking any of the sides of Rs 6200-5850 levels would suggest fresh directional moves. Else, prices remain choppy.
Natural Gas Jan
Weak bias expect to continue while prices stay below Rs 265. A direct rise above Rs 275 could negate the view.
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
Congested trade inside Rs 183.50-181 may continue initially. Either side breakout would suggest fresh directions.
Aluminium Jan
As long as prices stay below Rs 203 weak bias may continue. A direct rise above Rs 206 could negate the view.
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