18-01-2024 12:17 PM | Source: Geojit Financial Services
Commodity Intraday Technical Outlook 18 January 2024 - Geojit Financial Services

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Gold LBMA Spot:

Weak bias remains on the cards but major downside reversal is seen only below $1990.

Silver LBMA Spot:

A direct drop below $22.50 would trigger further selling pressure

Crude Oil NYMEX:

Range bound trading expected inside $70-74 levels and breaking any of the sides would suggest fresh directions

Gold KG Apr:

While prices stay below Rs 61800 would extend selling pressure. Else, there are chances of a recovery rally.

Silver KG Feb:

Immediate support is placed at Rs 71000, which if cleared would extend selling pressure.

Crude Oil Jan:

Prices continue inside Rs 6200-5850 levels and either side breakout would guide further short term direction.

Natural Gas Jan:

Mild upticks can be see initially but it required to close above Rs 245 to extend the momentum.

Copper Jan:

Inability to break the support of Rs 710 there are chances of mild recovery upticks for the day.

Nickel Jan:

Expect choppy with thin volume trading in the near future.

Zinc Jan:

Selling pressure may continue while prices stay below Rs 218.

Lead Jan:

As prices cleared the support of Rs 181 it may extend bearish outlook for the day.

Aluminium Jan:

Intraday outlook remains on the weaker side as long as prices stay below Rs 200.

 

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