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22-12-2023 11:34 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 22 December 2023 - Geojit Financial Services

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Gold LBMA Spot 

Choppy with mild positive bias expected initially. Immediate downside reversal is seen only below $1990.

Silver LBMA Spot 

Intraday outlook remains positive as long as $23.50 hold downside. Further weakness is seen only below $23.50.

Crude Oil NYMEX 

Expect mild recovery rallies initially. An unexpected drop below $70 is a sign of weakness.

Gold KG  Feb 

Consistent trades above Rs 62600 would extend rallies. If not, may see corrective selloffs for the day.

Silver KG Feb 

Immediate resistance above Rs 75800 needs to be cleared for trigger fresh rallies. Break below Rs 72500 is a sign of weakness.

Crude Oil Dec 

Break above Rs 6300 would extend rallies. Else, may see corrective selloffs.

Natural Gas Dec 

Mild positive bias expected the day. Anyhow, consistent trades below Rs 202 is a weak signal.

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 

Weakness may continue while prices stay below Rs 180. A direct rise above Rs 184 could negate the view.

Aluminium Dec 

It needs to sustain above Rs 203 to extend rallies. Else, may see choppy with negative bias trading

 

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