Commodity Intraday Technical Outlook 20 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
Break above Rs 62600 would extend rallies. If not, may see corrective selloffs for the day.
Silver KG Feb
A direct surge above Rs 75500 upticks would continue the day. An unexpected drop below Rs 72500 is a sign of weakness.
Crude Oil Dec
A direct drop below the same would see corrective selloffs.
Natural Gas Dec
Choppy with positive bias trading expected initially. However, consistent trades above Rs 216 would trigger fresh rallies.
Copper Dec
A direct rise above Rs 730 needs for extending rallies. Else, 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
As long as prices stay above Rs 203 may extend rallies. Unexpected drop below Rs 200 is a weak sign.
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