Commodity Intraday Technical Outlook 19 December 2023 - Geojit Financial Services
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Gold LBMA Spot
Prices remain choppy initially. Anyhow broad trend remains on the positive side as long as it stays above $1990.
Silver LBMA Spot
As long as $23.50 hold downside, intraday bias mostly on the positive side.
Crude Oil NYMEX
Recovery upticks may extend initially. An unexpected drop below $70 is a sign of weakness.
Gold KG Feb
Recovery upticks can see initially. However, further selloffs are expected only below Rs 61500.
Silver KG Feb
Upticks may see initially. An unexpected drop below Rs 72500 is a sign of weakness.
Crude Oil Dec
While above Rs 5800 would extend recovery rallies. A direct drop below the same would see corrective selloffs.
Natural Gas Dec
Consistent trades above Rs 216 is needed to extend rallies. If not may see weak momentum for the day.
Copper Dec
Resistance at Rs 730 which needs to be cleared for extending rallies. If not may see corrective selling pressure.
Nickel Dec
Expect choppy with thin volume trading in the near future.
Zinc Dec
If prices sustain above Rs 222 there are chances of recovery rallies. Else, weakness may continue the day.
Lead Dec
It is required to break above Rs 185 to extend rallies. Else, choppy with negative bias expected.
Aluminium Dec
While above Rs 203 may extend rallies. Unexpected drop below Rs 200 is a weak sign.
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